Morgan Stanley Analyst Adam Jonas Maintains Buy Rating on Tesla
Morgan Stanley analyst Adam Jonas has maintained a Buy rating on Tesla (TSLA) and set a price target of $400.00, citing the company’s strong performance and strategic positioning.
Key Factors in Jonas’ Positive Outlook
Despite a slight miss in fourth-quarter deliveries compared to consensus expectations, Tesla achieved a record high in quarterly deliveries, indicating robust demand and operational capabilities. Furthermore, the miss can be attributed to an aging product lineup and increased competition, which are expected to be addressed with the upcoming release of a new, more affordable model in 2025.
Another significant factor in Jonas’ positive outlook is Tesla’s impressive results in energy storage deployments, which exceeded expectations by 15%. This surge in storage deployment reflects a year-over-year growth of 113%, showcasing Tesla’s expanding footprint in renewable energy solutions. Additionally, the reduction in inventory days’ supply and an inflow of working capital further strengthen the company’s financial position, supporting the Buy rating.
Industry Analysis
In another report released on December 18, Robert W. Baird also maintained a Buy rating on the stock with a $480.00 price target.
Company Description
Tesla, Inc.
Tesla, Inc. manufactures and sells fully electric vehicles, solar energy generation systems, and energy storage products. It also operates a network of vehicle service centers and Supercharger stations. The company operates through two segments: Automotive and Energy Generation & Storage. Founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003, the company is headquartered in Palo Alto, CA.
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