Morgan Stanley analyst Adam Jonas lowered the firm’s price target on Tesla to $310 from $320 and keeps an Overweight rating on the shares. Tesla posted its first year over year decline in deliveries excluding Covid since 2012, and while electric vehicles may be the “future,” in the present, they are really struggling, the analyst tells investors in a research note. The firm believes Tesla can be valued as an AI beneficiary, but the company must see a stabilization in the negative revisions within the auto business first.
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