Tesla Q1 report ‘had something for everyone,’ says Morgan Stanley

Morgan Stanley argues that Tesla’s Q1 report “had something for everyone,” noting that results were not as bad as many feared, but questions remain regarding near-term growth and profitability so both bears and bulls can “rejoice” after last night’s results and call. Free cash flow was weaker than feared, while accelerated new product launches on existing lines and details on ride-hailing app were “unexpected features” of the Q1 call and shareholder letter, added the analyst, who has an Overweight rating and $310 price target on Tesla shares.