Tesla (TSLA – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Adam Jonas from Morgan Stanley maintained a Buy rating on the stock and has a $410.00 price target.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Adam Jonas’s rating is based on Tesla’s strategic positioning in the electric vehicle market, which heavily relies on advanced technologies like permanent magnets. These magnets, crucial for electric motors, are dependent on rare earth elements, a sector currently dominated by China. Tesla’s proactive approach in securing its supply chain and exploring alternatives amid geopolitical tensions highlights its resilience and adaptability.
Furthermore, the growing demand for electric vehicles and Tesla’s innovative edge in this space contribute to a positive outlook. The company’s efforts to mitigate risks associated with rare earth supply disruptions and its commitment to technological advancements underscore its potential for sustained growth, justifying the Buy rating.
Jonas covers the Consumer Cyclical sector, focusing on stocks such as Tesla, Ferrari, and American Axle. According to TipRanks, Jonas has an average return of 4.3% and a 51.72% success rate on recommended stocks.
In another report released on May 23, Wedbush also maintained a Buy rating on the stock with a $500.00 price target.
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue