Skip to main content

Market Overview

Tesla Gets Street-High $810 Price Target From Morgan Stanley

Share:
Tesla Gets Street-High $810 Price Target From Morgan Stanley

Despite rising more than 700% over the past year, Tesla Inc (NASDAQ: TSLA) is getting a bullish call and new Street-high price target.

The Tesla Analyst: In a note published after Tuesday's close, Morgan Stanley analyst Adam Jonas reiterates an Overweight rating on Tesla while raising the firm's price target from $540 to $810.

Jonas issued a cautious note in December calling the entry into electric vehicles by Apple Inc (NASDAQ: AAPL) a new “bear case” for Tesla.

Related Link: Morgan Stanley Upgrades Tesla On Growth Potential In Embedded Businesses

The Tesla Thesis: Delivery growth of 61% year-over-year in the fourth quarter was better than expected by Jonas. The analyst raised the 2030 volume estimate to 5.2 million units from 3.8 million units.

“We continue to believe Tesla can outperform vs our sector in 2021,” Jonas wrote in the new note.

The analyst said the market has chosen to discount the value of Tesla compared to peers despite a range of high outcomes.

“Tesla’s business model can unlock recurring mobility services revenue faster and more profitable than the competition,” said Jonas, calling Tesla the “chosen one” for the internet of cars sector.

It’s hard to find a more innovative company, especially in the electric vehicle and autonomous vehicle markets said Jonas calling Tesla the best positioned.

TSLA Price Action: Shares of Tesla closed up 1% to $735.11 on Tuesday. Shares hit new split-adjusted highs of $740.84 earlier in the session.

The stock was up 2.17% to $751 in after-hours trading.

Latest Ratings for TSLA

DateFirmActionFromTo
Apr 2021MizuhoMaintainsBuy
Apr 2021Canaccord GenuityUpgradesHoldBuy
Apr 2021JP MorganMaintainsUnderweight

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

 

Related Articles (TSLA)

View Comments and Join the Discussion!

Posted-In: Adam JonasAnalyst Color Long Ideas Price Target Reiteration After-Hours Center Analyst Ratings Trading Ideas Best of Benzinga

Latest Ratings

StockFirmActionPT
ICADGuggenheimInitiates Coverage On24.0
SMBKRaymond JamesUpgrades27.0
WNSNeedhamMaintains88.0
EFXNeedhamMaintains260.0
GOOGLJefferiesMaintains2,700.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com