Morgan Stanley analyst Adam Jonas maintained a Buy rating on Tesla (TSLA – Research Report) yesterday and set a price target of $410.00.
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Adam Jonas has given his Buy rating due to a combination of factors that highlight Tesla’s strategic advancements and market potential. One significant reason is the recent positive market reaction to Tesla’s ‘soft launch’ of its robotaxi service in Austin, Texas. The demonstration, despite some imperfections, was largely perceived as safe and uneventful, indicating a promising future for Tesla’s autonomous vehicle technology.
Additionally, the broader context of substantial investments in autonomous and AI-driven technologies by major firms underscores the potential for growth in this sector. The competition for top AI talent, as illustrated by reports of significant signing bonuses, further emphasizes the importance and value of advancements in this field, which Tesla is well-positioned to capitalize on. These elements together contribute to Jonas’s optimistic outlook on Tesla’s stock.
In another report released on June 23, RBC Capital also maintained a Buy rating on the stock with a $307.00 price target.
TSLA’s price has also changed moderately for the past six months – from $462.280 to $340.470, which is a -26.35% drop .