In a report released yesterday, Adam Jonas from Morgan Stanley maintained a Buy rating on Tesla (TSLA – Research Report), with a price target of $430.00.
Adam Jonas has given his Buy rating due to a combination of factors that highlight Tesla’s potential in the evolving landscape of AI and robotics. Despite recent declines in vehicle sales across Europe, Jonas sees Tesla transitioning from a traditional automotive company to a leader in AI and robotics, which could significantly expand its total addressable market. He believes that the company’s ventures into embodied AI, such as humanoid robots, present a larger and faster-growing opportunity than autonomous vehicles alone.
Furthermore, Jonas emphasizes Tesla’s potential as a long-term winner in the autonomy and robotaxi sectors. He reinstates Tesla as a ‘Top Pick’ in the US auto sector, projecting over 50% upside to a $430 price target. Although Tesla’s shares have dropped nearly 30% year-to-date, Jonas views this as an attractive entry point for investors, given the company’s competitive advantage in emerging AI industries.
In another report released on February 28, RBC Capital also maintained a Buy rating on the stock with a $440.00 price target.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TSLA in relation to earlier this year.