As Tesla Stock Reels After A Rough Week Following Earnings, Top Analyst Defends Elon Musk's Ambitions For EV Giant Beyond Cars: 'Investors Should Not Overlook Tesla's Other Plays…'
Portfolio Pulse from Navdeep Yadav
Tesla faced a challenging week with weaker-than-expected Q2 earnings and the lowest profit margins in five years. Despite these setbacks, Morgan Stanley analyst Adam Jonas defended Tesla's stock, emphasizing the potential of its non-automotive divisions like energy, AI, and robotics. Jonas maintained a $310 price target, highlighting the record deployment of energy storage products. Other analysts had mixed reactions, with some criticizing Tesla's strategy and margins.
July 29, 2024 | 11:13 am
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Tesla reported weaker-than-expected Q2 earnings and the lowest profit margins in five years. Despite these challenges, Morgan Stanley analyst Adam Jonas maintained a $310 price target, emphasizing the potential of Tesla's non-automotive divisions like energy, AI, and robotics.
The mixed news of weak earnings and low profit margins is balanced by the positive outlook from Morgan Stanley's analyst, who highlights the potential of Tesla's non-automotive divisions. This creates a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100