Following Tesla’s Q4 earnings report, Morgan Stanley analyst Adam Jonas said a 200 basis point miss on its "clean" auto gross margin was offset by stronger energy and services cost controls. The analyst, who notes that FY23 guidance for production of 1.8M units was in-line with expectations, expects pricing net of cost improvement to leave margins lower and thinks FY23 earnings could bottom near $3 per share. The firm has an Overweight rating and $220 price target on Tesla shares.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on TSLA: