Diamond Member Pelican Press 0 Posted April 4 Diamond Member Share Posted April 4 Morgan Stanley’s Adam Jonas says Tesla $100 bear case may be ‘in play’ Tesla may have further to fall in the near-term despite its long-term potential, according to Morgan Stanley. “We do not believe Tesla will get credit as an AI company as long as core auto earnings are being revised down,” wrote widely-followed Tesla bull Adam Jonas. “This process may take a few more quarters to see through, over which time our $100 bear case may be ‘in play’,” the analyst wrote in a report Thursday. The $100 bear case suggests that Tesla could fall more than 40% from Wednesday’s close. Shares of the electric vehicle maker have come under pressure in recent months, falling 33% this year, as competition mounts in China and demand wanes. Earlier this week, Tesla reported an 8.5% decline in first-quarter deliveries compared to a year ago. These issues could hamstring Tesla near term, but Jonas expects deliveries to find a bottom in the second quarter. In fact, he views Tesla as a combination of an auto, energy, AI and robotics stock, noting that its auto business represents only 20% of Morgan Stanley’s $310 price target valuation. “At the same time, however, we believe investors should not ignore the continued developments of Tesla’s other plays, many of which are auto-related (i.e. the recurring revenue opportunity from the Tesla fleet – embedded in our Tesla Network Services valuation) and other areas that we do not include within our $310 target,” he said. The $310 price target, down from a previous $320, suggests that Tesla stands to gain 84% from Wednesday’s close over the next 12 months. Jonas reiterated an overweight recommendation on Tesla in his report. This is the hidden content, please Sign In or Sign Up Investment strategy,Stock markets,Tesla Inc,business news #Morgan #Stanleys #Adam #Jonas #Tesla #bear #case #play This is the hidden content, please Sign In or Sign Up Link to comment https://hopzone.eu/forums/topic/10614-morgan-stanley%E2%80%99s-adam-jonas-says-tesla-100-bear-case-may-be-%E2%80%98in-play%E2%80%99/ Share on other sites More sharing options...
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