Morgan Stanley remains bullish on Tesla with Outperform rating and $400 price target
$Tesla (TSLA.US)$ Morgan Stanley remains bullish on Tesla with an Outperform rating and a $400.00 price target on their “Top Pick” as the UAW continues to strike against the auto industry.
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Morgan Stanley sees the UAW strike of 2023 as very similar to the 2019 strike against General Motors, but with a significant difference. Last time, there was no viable alternative to domestic auto production outside of the Detroit 3 (GM, Ford, Stellantis).
In 2019, when the UAW went on strike for a grueling six weeks, Tesla had a 1% US market share and financial troubles. Now, Tesla's share is around 5%, expected to double soon, possibly surpassing GM and Ford combined by the end of the decade.
“Tesla's influence on both sides of the negotiating table looms larger that it appears,” wrote Morgan Stanley analysts.
In 2019, when the UAW went on strike for a grueling six weeks, Tesla had a 1% US market share and financial troubles. Now, Tesla's share is around 5%, expected to double soon, possibly surpassing GM and Ford combined by the end of the decade.
“Tesla's influence on both sides of the negotiating table looms larger that it appears,” wrote Morgan Stanley analysts.
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$BYD COMPANY (01211.HK)$ $BYD Co. (BYDDF.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $VOLKSWAGEN A G (VWAGY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $General Motors (GM.US)$ $Ford Motor (F.US)$ $Rivian Automotive (RIVN.US)$ $MERCEDES-BENZ GROUP AG (MBGAF.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $GEELY AUTO (00175.HK)$ $Stellantis NV (STLA.US)$
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