Morgan Stanley lifts target price on Tesla to $810

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Morgan Stanley analyst Adam Jonas lifted his target price on Tesla to $810 from $540 as he reiterated an overweight call on the electric vehicle maker. “In our opinion, Tesla is still the best positioned company in EVs and AVs under our coverage due to its people, its technology, business model and access to capital. Furthermore, it is important to note that the company has no entanglement with the environmental liabilities that burden its legacy competition. Put it all together and we believe Tesla’s business model can unlock recurring mobility services revenue faster and more profitably than the competition,” the analyst said. Tesla closed Tuesday at $735.11.
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