After Morgan Stanley, CEO Elon Musk Himself Identifies Tesla's Long-Term Value Drivers
Portfolio Pulse from Anan Ashraf
Tesla Inc's CEO, Elon Musk, stated that the company's long-term value will be driven by AI and robots. This follows a Morgan Stanley report that identified Tesla's custom supercomputer, Dojo, as a key driver for the company's long-term growth. Morgan Stanley analyst Adam Jonas upgraded his rating on Tesla from 'equal-weight' to 'overweight', increasing the price target by 60% to $400. Jonas believes that Dojo could add $500 billion to Tesla's enterprise value.
September 12, 2023 | 3:08 am
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POSITIVE IMPACT
Tesla's long-term value is expected to be driven by AI and robots, according to CEO Elon Musk. This aligns with a Morgan Stanley report that sees potential in Tesla's supercomputer, Dojo. The firm's analyst upgraded Tesla's rating and raised the price target to $400.
The positive comments from both Elon Musk and Morgan Stanley's analyst about Tesla's long-term growth potential, driven by AI and robots, are likely to boost investor confidence in the company. This, coupled with the upgraded rating and increased price target from Morgan Stanley, could lead to a short-term increase in Tesla's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100