UPDATE: Morgan Stanley Reiterates on Tesla Motors as Volume Assumptions Double

In a report published Tuesday, Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on Tesla Motors (NASDAQ: TSLA), and raised the price target from $153.00 to $320.00.

In the report, Morgan Stanley noted, “Tesla's quest to disrupt a trillion $ car industry offers an adjacent opportunity to disrupt a trillion $ electric utility industry. If it can be a leader in commercializing battery packs, investors may never look at Tesla the same way again. Target rises to $320 as our volume assumptions double.”

Tesla Motors closed on Monday at $217.65.