U.S. Stock Market Update | Tesla's 5% Surge Overtakes Ford as Morgan Stanley's Top U.S. Auto Stock Pick
On Monday, Tesla's stock price rose, with the stock up over 5% to $231.93 as of the time of writing. Tesla has replaced Ford as Morgan Stanley's top pick among U.S. automaker stocks. Analyst Adam Jonas and his team at Morgan Stanley are optimistic about Tesla's prospects, giving it a target price of $310, implying a 40% upside potential. They believe Tesla has made progress in controlling expectations in the automotive business and that the emerging drivers of company value are strong. Jonas particularly emphasized Tesla's potential monopoly position in the Zero Emission Vehicle (ZEV) credit market and its growing recurring service revenue
According to the Zhitong Finance and Economics APP, on Monday, Tesla (TSLA.US) stock price rose, with the stock up over 5% to $231.93 at the time of writing. Tesla has replaced Ford (F.US) as Morgan Stanley's top pick among U.S. automakers. Analyst Adam Jonas and his team at Morgan Stanley are optimistic about Tesla's prospects, giving it a target price of $310, implying a 40% upside potential. They believe Tesla has made progress in controlling expectations in the automotive business and that the emerging drivers of company value are strong. Jonas particularly emphasized Tesla's potential monopoly position in the zero-emission vehicle (ZEV) credit market and its growing recurring service revenue