Morgan Stanley Cuts Tesla Price Target to $345 From $380

Tiger Newspress01-22

Morgan Stanley head of global auto research Adam Jonas expects Tesla’s fourth-quarter results on Wednesday to be hurt by overall slower electric vehicle momentum.

Jonas reiterated an overweight rating on the EV stock but lowered his price target to $345 per share from $380. Jonas’ forecast implies nearly 63% upside from Friday’s $212.19 close.

“Global EV momentum is stalling,” Jonas said. “The market is over-supplied vs. demand. We anticipate Tesla’s 2024 outlook to be cautious on volume and profitability.”

Tesla stock gains 1% in premarket trading.

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Comments

  • Bulbul
    01-22
    Bulbul
    Trying to lower down the price before earning report.. 
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