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Tesla Extends Gain to 6% as Morgan Stanley Names It Top US Auto Pick
M+ Global Updates29/07/2024 22:27
Tesla ($Tesla Motors, Inc. TSLA$) stock rose 6% to US$233.14 as of 10:24 AM EST (10:24 PM Malaysia time) after Morgan Stanley named the company its top US auto pick, replacing Ford ($Ford Motor Company F$).
Analyst Adam Jonas and his team at Morgan Stanley expressed optimism about Tesla's prospects, setting a US$310 price target implying a 40% upside potential. They believe Tesla has made progress in managing its auto business and sees strong performance in its emerging value drivers.
Jonas highlighted Tesla's potential monopoly position in the zero-emission vehicle (ZEV) credit market and its growing recurring service revenue.
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This page is machine-translated. M+ Global tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation.