Morgan Stanley analyst Adam Jonas has maintained their bullish stance on TSLA stock, giving a Buy rating on March 24.
Adam Jonas has given his Buy rating due to a combination of factors that highlight Tesla’s strategic positioning and potential in the evolving automotive landscape. One of the key considerations is Tesla’s emphasis on autonomy and the innovative approach of developing vehicles like the Cybercab, which will operate without a steering wheel, showcasing Tesla’s commitment to leading in autonomous vehicle technology.
Additionally, Jonas notes the broader industry trends, such as the potential for Chinese EVs to enter the US market, which underscores the competitive environment Tesla is navigating. Despite the challenges, Tesla’s strategic moves, including plans to double US auto production, position the company well to capitalize on future growth opportunities. These factors collectively contribute to Jonas’s optimistic outlook on Tesla’s stock, justifying the Buy rating.
In another report released on March 24, Canaccord Genuity also reiterated a Buy rating on the stock with a $404.00 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.