Morgan Stanley analyst Adam Jonas lifted his target price on Tesla TSLA, +0.73% to $810 from $540 as he reiterated an overweight call on the electric vehicle maker. “In our opinion, Tesla is still the best positioned company in EVs and AVs under our coverage due to its people, its technology, business model and access to capital. Furthermore, it is important to note that the company has no entanglement with the environmental liabilities that burden its legacy competition. Put it all together and we believe Tesla’s business model can unlock recurring mobility services revenue faster and more profitably than the competition,” the analyst said. Separately, Barclays analyst Brian Johnson reiterated an underweight call with a $230 price target. “With the shares trading at 15x EV/sales, Tesla shares trade well above the multiples of the newer EV entrants and, to an even greater extent, above multiples of legacy automakers,” he said, adding there’s a risk Tesla will push unit sales over prices and margins. Tesla closed Tuesday at $735.11.
View Article Origin Here
