Morgan Stanley analyst Adam Jonas maintained a Buy rating on Tesla (TSLA – Research Report) today and set a price target of $410.00.
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Adam Jonas has given his Buy rating due to a combination of factors that highlight Tesla’s potential in the evolving technology landscape. He points out the underestimated role of automobiles in the mobile and hybrid computing market, suggesting that Tesla could leverage new AI-enabled technologies to innovate beyond traditional automotive functions. This positions Tesla to capitalize on the integration of digital life both inside and outside the vehicle.
Additionally, Jonas envisions a future where AI and robotics lead to a proliferation of new robotic forms, each requiring complex components and systems. Tesla’s potential involvement in this expanding market of robotic ‘muscle’ and degrees of freedom (DoF) could signify significant growth opportunities. These insights into Tesla’s strategic positioning in emerging tech markets underpin Jonas’s positive outlook and Buy rating.
In another report released on June 16, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $355.00 price target.