Tesla's AI Investments and Upcoming Shareholder Vote Would Determine Future Growth: Morgan Stanley Analyst
Portfolio Pulse from Anusuya Lahiri
Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on Tesla Inc (NASDAQ:TSLA) with a price target of $310. Jonas emphasized the importance of Tesla's AI investments and the upcoming June 13 shareholder vote, which could drive material volatility in the stock. He noted that Tesla's success in AI could lower the cost of capital for Elon Musk's other ventures, while failure could increase it.
May 22, 2024 | 5:54 pm
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Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on Tesla with a price target of $310. The analyst highlighted the importance of Tesla's AI investments and the upcoming June 13 shareholder vote, which could drive material volatility in the stock.
The reiteration of an Overweight rating and a high price target by a reputable analyst like Adam Jonas is likely to positively impact Tesla's stock in the short term. The emphasis on AI investments and the upcoming shareholder vote adds to the potential for volatility, but the overall sentiment is positive.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100