Tesla Replaces Ford As Morgan Stanley's 'Top Pick' As Brokerage Sees Potential In EV Giant's Energy And Service Segments
Portfolio Pulse from Anan Ashraf
Morgan Stanley has replaced Ford with Tesla as its top pick in the U.S. auto industry, citing Tesla's potential in energy and service segments. The brokerage has set a price target of $310 for Tesla and $16 for Ford. Tesla's cost-cutting measures, increased service revenue, and potential in the energy sector are highlighted, although concerns remain about the company's full self-driving technology and EV demand.
July 30, 2024 | 8:37 am
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POSITIVE IMPACT
Morgan Stanley has named Tesla its top pick in the U.S. auto industry, citing the company's potential in energy and service segments. The brokerage has set a price target of $310 for Tesla, representing a 34% upside from its recent closing price.
Morgan Stanley's endorsement and high price target for Tesla are likely to boost investor confidence and drive the stock price up in the short term. The focus on energy and service segments adds to the positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Ford has been replaced by Tesla as Morgan Stanley's top pick in the U.S. auto industry. The brokerage has set a price target of $16 for Ford, representing a 45% upside from its recent closing price.
While Ford has been replaced by Tesla as Morgan Stanley's top pick, the brokerage still sees significant upside potential for Ford with a price target of $16. This mixed sentiment may result in a neutral short-term impact on Ford's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80