Tesla (TSLA) and GM (GM) to Benefit From Legislation Removing EV Credit Caps - Morgan Stanley
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Rating Summary:
23 Buy, 27 Hold, 13 Sell
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Up: 13 | Down: 11 | New: 11
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Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $900.00 price target on Tesla (NASDAQ: TSLA) expecting the company to benefit from US Senate driven legislation that could potentially eliminate the caps on EV tax credits while offering incentives of up to $12,500 for EVs made in the US in a unionized factory (for vehicles with MSRP < $80k).
The analyst stated "While it may be tempting to pick winners based on who may be eligible for the highest incentive on a ‘per unit’ basis, we believe the biggest beneficiaries of growing and extending BEV incentives will be based on who can produce the most BEVs (and batteries) to meet demand over the next few years. In our minds, General Motors (NYSE: GM) and Tesla stand out here."
For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.
Shares of Tesla closed at $630.85 yesterday.
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