Tesla (TSLA) PT Raised to 'Street High' $810 at Morgan Stanley, Bull Case at $1,232

January 5, 2021 4:26 PM EST
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Price: $900.09 +4.68%

Rating Summary:
    29 Buy, 18 Hold, 11 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 40 | New: 22
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(Updated - January 5, 2021 4:32 PM EST)

Morgan Stanley analyst Adam Jonas raised the price target on Tesla (NASDAQ: TSLA) to a 'Street High' $810.00 (from $540.00) while maintaining an Overweight rating. The firm set a Bull Case of $1,232.

Jonas raised 2030 volume to 5.2 million units versus 3.8 million units.

The analyst comments "While the range of outcomes is admittedly high, the market has ‘chosen’ to ascribe a higher level of discounted value to Tesla than that typically discounted for its peers. Despite the extraordinary run in the share price, we continue to believe that Tesla can outperform vs. our sector in 2021. In our opinion, Tesla is still the best positioned company in EVs and AVs under our coverage due to its people, its technology, business model and access to capital. Furthermore, it is important to note that the company has no entanglement with the environmental liabilities that burden its legacy competition. Put it all together and we believe Tesla's business model can unlock recurring mobility services revenue faster and more profitably than the competition. We struggle to find a more innovative company with the ability to execute against the high degree of difficulty inherent in sustainable transportation and energy at scale. We reckon it's a rather short list."

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