Morgan Stanley Analyst Increasingly Bullish On Elon Musk's Tesla Optimus Venture As Jeff Bezos, Nvidia, Microsoft Pour $675M In FigureAI
Portfolio Pulse from Anan Ashraf
Morgan Stanley analyst Adam Jonas is increasingly bullish on Tesla's Optimus humanoid robot venture, highlighting the accelerating interest in humanoid robotics. Jonas notes the recent $675 million funding round for Figure AI by Jeff Bezos, Nvidia, Microsoft, and OpenAI, and the Chinese government's support for humanoid robot technologies. Despite Tesla's stock dipping 34.16% YTD, Jonas maintains an 'overweight' rating on Tesla with a $320 price target, not yet including Optimus's potential. Tesla has demonstrated progress with Optimus, aiming to ship units next year, though Elon Musk acknowledges uncertainties.
March 16, 2024 | 2:27 am
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Adam Jonas of Morgan Stanley remains bullish on Tesla, particularly with the development of the Optimus humanoid robot. Despite a 34.16% dip in Tesla's stock YTD, Jonas has an 'overweight' rating with a $320 price target, not accounting for Optimus's potential.
The optimism from a prominent analyst like Adam Jonas regarding Tesla's venture into humanoid robotics, especially with the development of Optimus, could positively influence investor sentiment. The mention of significant investments from major tech figures and companies in the robotics sector underscores the potential growth and profitability of this industry. Although the current valuation does not include Optimus, its successful development and commercialization could lead to a reevaluation of Tesla's stock, potentially driving up its price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100