Tesla a Bargain as It Nears Morgan Stanley Bear Case
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After losing nearly $300 bn in market value in two months, a growing chorus of Tesla Inc. analysts are saying the share-price decline has gone far enough.
After losing nearly $300 billion in market value in two months, a growing chorus of Tesla Inc. analysts are saying the share-price decline has gone far enough.Morgan Stanley analyst Adam Jonas said on Wednesday that Tesla is approaching his “bear case” price target of $150, presenting an opportunity for investors to buy at a bargain price. Citi analysts today upgraded the shares to neutral from sell, saying that a more than 50% slump this year “has balanced out the near-term risk/reward.” Despite challenges including decelerating demand and price cuts in China, Tesla is the only electric vehicle maker covered by Morgan Stanle...
