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Analyst Adam Jonas of Morgan Stanley maintained a Buy rating on Tesla, retaining the price target of $410.00.
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Adam Jonas has given his Buy rating due to a combination of factors that highlight Tesla’s strategic positioning in the evolving global landscape of electric vehicles and robotics. He notes that the geopolitical dynamics between the US and China, particularly in the realm of technology and manufacturing, present both challenges and opportunities for Tesla. Despite potential security concerns, the integration of Chinese technology in manufacturing processes could benefit Tesla by enhancing its production capabilities and cost efficiency.
Furthermore, Jonas points out that the competition between the US and China in autonomous vehicles and AI robotics is intensifying. He believes that Tesla stands to gain from this competition as the US may increase its support for domestic advancements in these technologies. Additionally, Jonas suggests that the growing lead of China in AI and robotics production could eventually benefit Tesla, as the company may leverage these advancements to maintain its competitive edge in the market.
According to TipRanks, Jonas is a 4-star analyst with an average return of 5.4% and a 53.55% success rate. Jonas covers the Consumer Cyclical sector, focusing on stocks such as Tesla, Ferrari, and Lucid Group.
In another report released on September 15, Wedbush also maintained a Buy rating on the stock with a $500.00 price target.
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