From Nasdaq:

Tesla’s classification as an automotive or technology company has been a hot topic on Wall Street. Morgan Stanley’s Adam Jonas suggests Tesla can be both, and not just more than just an auto company. Despite challenges faced by Tesla, Jonas remains bullish on Tesla’s potential, reiterating an Overweight rating on TSLA with a Street-high $380 price target, implying a 45% upside from current levels.

Tesla’s upcoming AI day and custom supercomputing effort, Dojo, could open up opportunities in new markets beyond vehicle sales. The potential for edge AI could blur lines between the automotive and mobile device markets. Jonas sees Tesla vehicles as roboticized edge computers, further signaling potential for growth. His bullish outlook suggests a 45% upside from current levels.

Not all analysts share Jonas’ optimistic view, however. The stock claims a Hold consensus rating with an average target of $243.59, implying shares will trend ~7% lower over the next year. Thus, it is advisable for investors to conduct thorough analysis before considering any investment decisions.

It is very important to do your own analysis and research before making any investment decisions. The opinions expressed in the article are solely those of the featured analysts, and the content is intended for informational purposes only. The views and opinions expressed herein are the author’s and do not necessarily reflect those of Nasdaq, Inc.



Read more: Morgan Stanley Breaks Down $380 Price Target on Tesla Stock