Morgan Stanley Ups TSLA Price Targets (07.07.20)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 7 July 2020
⏱️ 9 minutes
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Summary
➤ Morgan Stanley has increased multiple price targets on TSLA stock in a new note entitled “The Great Re-Rating”
➤ Analysis of the Morgan Stanley’s price targets and how they compare to Tesla’s goals
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Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody Rob Maower here and we have a relatively quiet news day for Tesla despite all of the action with the stock and even the stock today taking a little bit of a break. |
| 0:14.9 | I'm recording before closed but right now we're trading pretty close to even on the day though down from |
| 0:19.6 | yesterday's after hour session but the biggest news for today seems to be updated price targets from Morgan Stanley, and I say price targets of course because Morgan Stanley has bullcase, barecase, and base case price targets for Tesla stock. |
| 0:32.4 | The updated note which was issued this morning before market |
| 0:34.9 | open was titled, quote, the great re-rating. Tesla price target to $740, bullcase to $2,070. So Morgan Stanley has increased their price target from $650 to $740, |
| 0:48.0 | but probably more notably and seemingly catching more attention is that bulk case, |
| 0:52.0 | which has increased from $1,200 per share to |
| 0:55.0 | two thousand and seventy dollars per share. We'll go through the details driving both of those |
| 0:59.0 | price targets but first I want to go through the commentary from the note which opens with quote |
| 1:03.3 | Tesla was already seen as the undisputed leader in EVs and auto 2.0 but a resilient |
| 1:08.6 | second quarter demand and likely profit is now making the company appear less risky slash stronger financially |
| 1:14.9 | than other OEMs sending the stock well above our prior bull case." |
| 1:18.8 | I guess that makes it time for an update and as we talked about yesterday, Wed Bush has increased |
| 1:23.7 | their price target for their bulkcase up to $2,000 per share, so Morgan Stanley sliding in right above |
| 1:28.8 | that now at 2070. |
| 1:31.2 | But Morgan Stanley's Adam Jonas asks the question in the note of, quote, what have we learned that is truly thesis changing over the past week? |
| 1:38.0 | End quote. They highlight three areas in this. They say that Q2 production and demand were ahead of expectations |
| 1:44.2 | differentiation from other OEMs has been shown saying that demand is |
| 1:48.4 | holding up better than other OEMs with Tesla only down about 5% year over year in Q2 versus other OEMs in that 20 to 30 |
| 1:56.3 | percent range and then Jonas notes that that top line resiliency on deliveries and |
| 2:01.0 | revenue would also likely lead to a stronger balance sheet performance |
| 2:05.0 | from Tesla, noting that competitors in this quarter and in the first half of the year have burned |
... |
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