Tesla Bull Adam Jonas Sees Optimus, Dojo And AI Spurring EV Giant In 2024 Despite 'Challenging' Times For Auto Business
Portfolio Pulse from Anan Ashraf
Morgan Stanley analyst Adam Jonas maintains an overweight position on Tesla Inc (TSLA) with a $380 price target, citing potential growth from non-automotive segments like AI, network services, and energy. He highlights the importance of Optimus, Dojo, and AI for Tesla's future, expecting new technologies to be introduced at Tesla's next AI day in 2024. Jonas predicts a 27% CAGR in Tesla's EPS through FY30, reaching $15/share by mid FY29 and $5/share by end of 2025.
December 27, 2023 | 3:36 am
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Adam Jonas of Morgan Stanley reiterates an overweight rating on Tesla with a $380 price target, optimistic about its AI and non-automotive segments contributing to growth. He anticipates significant developments from Optimus and Dojo, and a strong EPS growth trajectory.
The positive outlook from a prominent analyst like Adam Jonas can influence investor sentiment and potentially drive up Tesla's stock price in the short term. His emphasis on Tesla's AI and technology initiatives, along with a strong EPS growth forecast, may be seen as a strong endorsement of Tesla's future prospects beyond its core automotive business.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100