Reuters
Morgan Stanley is positive about Tesla’s stock, and it’s not just due to the company’s automotive business.
Analyst Adam Jonas improved Tesla to “equal weight” of “underweight” on Thursday night and raised his stock value target to $1,360 from $1,050. The new target means a 16% drop since Thursday’s close.
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Third-party automaker batteries and the electric vehicle powertrain business are now included in Morgan Stanley’s baseline situation and are worth $310 in line with the stake, Jonas said. Tesla is “potentially beating” the festival with its battery technology, he added, and investors will get more important points about their industry leadership on September 22 On Battery Day.
Tesla already controls some of the world’s production of automotive batteries. That percentage could increase if Tesla could simply develop its own battery production while implementing new technologies, according to Morgan Stanley. If rumors that a less expensive and more durable battery would be revealed on battery day are true, Tesla can reap the benefits of offering the fast-growing electric vehicle industry, Jonas wrote.
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Tesla is trading at $1650.74 consistent with a consistent percentage at 10:05 a.m. ET on Friday, a 298% increase since the start of the year.
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