Morgan Stanley Analyst Adam Jonas Maintains Buy Rating on Tesla
Morgan Stanley analyst Adam Jonas has maintained a Buy rating on Tesla (TSLA) with a price target of $400.00, citing the company’s strong performance and strategic positioning.
Robust Demand and Operational Capabilities
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. 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.
Impressive Energy Storage Deployments
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.
Buy Rating Maintained
In another report released on December 18, Robert W. Baird also maintained a Buy rating on the stock with a $480.00 price target. The combined sentiment from both analysts suggests a positive outlook for Tesla’s future growth and profitability.
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