Tesla stock had fallen 50% year-to-date but briefly recovered in value and is now down close to 36% YTD. It opened Monday’s trading bell at $248 after surging nearly 5.3% when the market closed on Friday. TSLA spiked close to 13 points in the day’s trade and was among the top-performing assets in the charts. Despite the challenging situation, global investment bank Morgan Stanley was bullish on Tesla stock but has now lowered the price target.
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Tesla Stock: Morgan Stanley Lowers TSLA Price Target From $430 to $410
The dwindling sales of electric cars are causing damage to Elon Musk’s firm making its shares crash. Morgan Stanley has lowered Tesla stock’s price target from $430 to $410 amid the sales downturn. However, analysts from the bank are confident that TSLA has the potential to scale up and is available at discounted prices. Read here to learn if TSLA stock has bottomed out in price for a better understanding of its technicalities.
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Morgan Stanley analyst Adam Jonas wrote in a note that Tesla leveraging artificial intelligence (AI) into its technology can change the game for the stock. AI could smoothen out automated driving challenges leading to robust innovation for the tech giant. “While the journey may be volatile and non-linear, we believe 2025 will be a year in which investors will continue to appreciate and value these existing and nascent industries of embodied AI where we believe Tesla has established a material competitive advantage,” he wrote.
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Despite trimming the price target from $430 to $410, Jonas remains optimistic. The Morgan Stanley analyst also gave Tesla stock a ‘Buy’ rating highlighting it as a top pick. Jones highlights that TSLA has chances of surging 65% from its current price and generating massive wealth for investors. Therefore, an investment of $10,000 could turn into $16,500 if the forecast turns out to be accurate.