Melius Research initiates ‘must own’ Tesla with a Buy

As previously reported, Melius Research analyst Rob Wertheimer initiated coverage of “must own” Tesla (TSLA) with a Buy rating and $520 price target “The disruptive force of AI will wreck multi trillion dollar industries, starting with auto,” said the firm, which believes Tesla is unique in its ability to deliver on this potential. Melius cites assumed success in autonomous vehicles, though the firm acknowledges that the valuation in such a company is “guesswork.”