Morgan Stanley’s Jonas Says The Bull Case On Tesla Is $500 Per Share

Read The Full Article On: Marketwatch

Morgan Stanley kept a $250 price target and equal-weight rating on Tesla TSLA, +0.10% but said the bull case is now $500 per share rather than $440. Analyst Adam Jonas said the newly unveiled Cybertruck and a more optimistic scenario in China accounts for the better upside. The bear case, however, is still $10. “To be clear, we are not bullish on Tesla longer term, especially as, over time, we believe Tesla could be perceived by the market more and more like a traditional auto OEM; we are prepared for a potential surge in sentiment through the first half of 2020 but question the sustainability,” he wrote. Tesla closed Thursday at $336.

Read The Full Article On: Marketwatch

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