In a report released today, Adam Jonas from Morgan Stanley maintained a Buy rating on Tesla, with a price target of $410.00.
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Adam Jonas has given his Buy rating due to a combination of factors influencing Tesla’s market position and future potential. Despite recent volatility in Tesla’s stock, partly driven by CEO Elon Musk’s political activities, Jonas sees these as strategic moves that could eventually benefit the company by drawing attention to key issues.
Another reason for the Buy rating is Tesla’s focus on technological advancements, particularly in the realm of humanoid robots. Jonas anticipates that Tesla’s pioneering efforts in this area will spur other automotive companies to follow suit, potentially leading to significant financial gains. Additionally, Tesla’s recent delivery figures, while slightly below expectations, still demonstrate resilience and underscore the strategic importance of their robotaxi and AI initiatives, which are expected to drive future growth.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $375.00 price target.