Morgan Stanley Downgrades Tesla (TSLA) to Equalweight
Morgan Stanley analyst Adam Jonas downgraded Tesla (NASDAQ: TSLA) from Overweight to Equalweight with a price target of $250.00 (from $200.00).
The analyst comments: "We raise our Tesla price target to $250 from $200, Bear Case valuation to $90 from $70, and Bull Case valuation to $450 from $390. Following these changes, we change our rating to Equal-weight from Overweight given a relatively full valuation and a more balanced risk reward and highlight key drivers and investor debates for the stock at this level."
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Shares of Tesla closed at $259.31 yesterday.