Posted 12/26/2023, 2:57:00 PM
Morgan Stanley Bullish on Tesla's Long-Term Prospects Despite Near-Term Headwinds
- Morgan Stanley reiterates Outperform rating on Tesla with $380 price target for 2024
- Sees 2024 as another challenging year for Tesla with potential for temporary margin contraction
- Views Tesla as not just an auto company but also an AI company
- 77% of Morgan Stanley's valuation of Tesla based on non-auto businesses like Network Services, Mobility, Energy
- Key potential catalysts beyond auto include Optimus robot, Dojo supercomputing, and expansion into new markets