Morgan Stanley analyst Adam Jonas maintained a Buy rating on Tesla (TSLA – Research Report) today and set a price target of $430.00.
Adam Jonas has given his Buy rating due to a combination of factors, despite the recent decline in Tesla’s stock price. He views the significant drop in Tesla’s share value as a strategic buying opportunity, especially considering Tesla’s potential as a leader in embodied AI technologies. The market has reacted negatively to Tesla’s recent sales data and brand perception, but Jonas believes these challenges are temporary and overshadowed by Tesla’s long-term growth prospects.
Jonas highlights several upcoming catalysts that could positively impact Tesla’s stock, such as the unveiling of the Austin robotaxi and advancements in autonomous vehicle technologies. These events, along with potential technological and commercial milestones, are expected to drive Tesla’s stock performance over the next year. Additionally, the current valuation of Tesla presents an attractive entry point for investors, reinforcing Jonas’s confidence in the company’s future earnings growth and strategic positioning in the auto and shared mobility sectors.
In another report released on March 6, Robert W. Baird also maintained a Buy rating on the stock with a $370.00 price target.
Based on the recent corporate insider activity of 40 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.