(News Bulletin 247) – Morgan Stanley on Thursday downgraded its advice on Tesla stock, reduced from ‘overweight’ to ‘online weighting’, mainly for valuation issues.
Despite the positive opinion that it could display on the stock, the broker recognizes that it had not seen the 111% surge in Tesla’s share price coming this year, where the S&P 500 index did not. took only 14% in the meantime.
While he says he considers the Californian group to be a big winner from the rise of artificial intelligence, beyond its status as a car manufacturer, the broker believes that the high ambitions of the market in this area have brought the title to a correct level of valuation, which leads it to downgrade its recommendation.
Its target price is nevertheless raised from 200 to 250 dollars.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
