Morgan Stanley is reiterating its overweight (or Buy) rating with a $330 price target, which represents a significant upside over Tesla’s current stock price. The analyst believes that it is creating a “window of opportunity opening for prospective Tesla investors.” Tesla shares would trade at approximately 12.5x EV/EBITDA and 23x PE on our FY25 forecast (SBC burdened) which we see as excellent value for a self-funded, 20 to 30% top-line grower in top position to benefit from re-architecting the US on-shore/near-shore/friend-shore renewable supply chain at scale. Morgan Stanley analyst Adam Jonas, a longtime Tesla bull, came out with a new note to clients this week in which he noted that Tesla’s stock is getting closer to his $150 per share bear case and that makes it more attractive on an EBITDA multiple basis: In comparison, the NASDAQ is down only 8% over the same period.Īfter trading at multiples over its revenue and earnings for years, Tesla is now getting into the range of a value stock, according to some analysts. The Tesla (TSLA) stock is down over 30% since August: Tesla has been delivering record numbers of vehicles, revenue, and profit lately, but it’s not being reflected in its stock performance. The beating that Tesla’s stock (TSLA) has been through has brought it down to near value stock level, says a Morgan Stanley analyst.
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