Morgan Stanley Says Pullback Has Created Buying Opportunity on Tesla Motors

In a report published Tuesday, Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $153.00 price target on

. In the report, Morgan Stanley noted, “We believe negative news flow on Model S fires, while clearly disruptive to the stock's momentum, will not cause material damage to the business. The pullback has created more than 20% upside to our $153 target (unchanged), enough to make TSLA our top pick out of 26 names in our US auto coverage.” Tesla Motors closed on Monday at $124.17.