Morgan Stanley analyst who missed the Tesla comeback sticks by call that it will drop 40%
William Feuer
Tuesday, 24 Dec 2019 10:13 AM EST
Morgan Stanley analyst Adam Jonas reiterated his $250 price target for Tesla stock, which could cut the car manufacturer's valuation by about 40%.
The company has enjoyed a stellar few months that has launched its stock to new heights.
Jonas said the stock will likely continue to rise as the company reaches milestones, but that long term the stock will prove to be overvalued for a car manufacturer.