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Morgan Stanley hikes Tesla stock price target

Morgan Stanley analyst Adam Jonas maintained an Overweight rating on Tesla shares and increased the price target from $1,200 to $1,500. The analyst maintained his bear- and bull-case price targets at $500 and $1,600, respectively. There are signs that Tesla is accelerating its lead over its EV peers, Jonas said. 

Morgan Stanley raised its fiscal-year 2022 delivery forecast for Tesla from 1.22 million units to 1.46 million units, and increased its 2030 volume estimate from 8.1 million units to 8.6 million units. Morgan Stanley attributed the increased price target for Tesla shares to higher revenue and earnings assumptions, which drive modestly higher valuations from adjacent businesses, including Network Services, etc, in its SOTP model. Almost half of the firm's $1,300 target is accounted for by its core Auto valuation of $618/share, it added. 


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