Tesla (TSLA) PT Lowered to $310 at Morgan Stanley, 'Near Term Fearful vs. Long Term Greedy'

April 4, 2024 6:10 AM EDT
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Price: $239.20 -4.02%

Rating Summary:
    25 Buy, 25 Hold, 15 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 21 | New: 27
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Morgan Stanley analyst Adam Jonas lowered the price target on Tesla (NASDAQ: TSLA) to $310.00 (from $320.00) while maintaining a Overweight rating.

The analyst comments "Tesla’s weak 1Q update is a clear sign of the ongoing EV ‘shakeout’ phase. Our revised FY24 delivery est is 1.75mm (down 3.3% YoY) and flips TSLA to a FY cash burn of $2.3bn on our est. We think numbers bottom by 2Q results, well before a major rejuvenation of the model cycle. PT to $310. Reit. OW."

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