Tesla Stock To $400? Morgan Stanley's Jonas Boosts Price Target By 60% To Wall Street High On Dojo's $500B Potential
Portfolio Pulse from Anan Ashraf
Morgan Stanley analyst Adam Jonas has upgraded his rating on Tesla Inc (NASDAQ:TSLA) from ‘equal-weight’ to ‘overweight,’ boosting the price target by 60% to $400. Jonas believes that Tesla's custom supercomputer, Dojo, could add $500 billion to Tesla’s enterprise value, primarily driven by a faster adoption rate in mobility and network services. He also estimates that Dojo could generate approximately $6.5 billion in cost savings for Tesla over the next couple of years.
September 11, 2023 | 7:59 am
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POSITIVE IMPACT
Tesla's stock could see a positive impact due to the upgraded rating and increased price target by Morgan Stanley analyst Adam Jonas. The potential of Dojo supercomputer to add significant value to the company and generate cost savings could drive the stock higher.
The upgraded rating and increased price target by a prominent analyst could lead to increased investor confidence in Tesla, potentially driving the stock price higher. The potential of Dojo supercomputer to add significant value to the company and generate cost savings could also be a positive catalyst for the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Ferrari NV (NYSE:RACE) was surpassed by Tesla as Jonas’s top pick, which could potentially have a negative impact on Ferrari's stock.
The fact that Ferrari was surpassed by Tesla as the top pick of a prominent analyst could lead to decreased investor confidence in Ferrari, potentially driving the stock price lower.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50