Morgan Stanley Reiterates Overweight Rating on Tesla (TSLA)

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $410.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "AI diffusion makes it necessary to re-shore manufacturing. At the same time, AI diffusion makes it possible to re-shore manufacturing. In this way, AI is both the cause and the effect of a US manufacturing revival. NVIDIA CEO Jensen Huang's recent visit to the White House highlighted the seemingly strange yet absolutely essential relationship between AI and manufacturing. Mr. Huang's May 1st impromptu remarks on US manufacturing captured much of the spirit of what we have tried to convey to investors about Tesla's relative advantages that drive the name as our 'Top Pick.' The direct quotes from Mr. Huang say it best: "Manufacturing isn't about low cost manufacturing anymore. Manufacturing is about technology." "And most of the factories that build these systems today are the most advanced factories of the future. And we're going to use artificial intelligence and robotics and omnivores digital twin technology to make it possible for us to create the factories of the future. And we have to build it right here." "And this new industry is a manufacturing industry in itself... [gesturing towards the supercomputer] that's a factory machine.""

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Shares of Tesla closed at $280.26 yesterday.

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