Tesla-CATL 'Power Couple' Can Recharge US EV Market, Says Morgan Stanley Analyst Adam Jonas: '...Could Be A Game-Changer'
Portfolio Pulse from Anan Ashraf
Morgan Stanley analyst Adam Jonas highlighted the potential impact of a partnership between Tesla Inc (NASDAQ:TSLA) and Chinese battery maker CATL on the U.S. EV market. He suggests that this collaboration could be a game-changer by providing high-quality, cheaper batteries, essential for Tesla's goal of producing a more affordable EV priced around $25,000. Jonas maintains a $320 price target on Tesla with an 'overweight' rating. Tesla's stock closed up 2.92% at $177.67, though it's down nearly 28.5% year-to-date.
March 27, 2024 | 3:22 am
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POSITIVE IMPACT
The potential partnership between Tesla and CATL could significantly impact Tesla's ability to produce a more affordable EV, aligning with its goal of a $25,000 car. Adam Jonas maintains a bullish $320 price target on Tesla.
The partnership with CATL could enable Tesla to access the necessary technology for cheaper batteries, a critical component for producing a more affordable EV. This move could enhance Tesla's market position in the U.S. EV sector and aligns with analyst Adam Jonas's positive outlook, as reflected in his $320 price target for Tesla. The stock's recent performance and the potential for this partnership to address a significant market need suggest a positive short-term impact.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100