Lates News

After replacing the chief analyst in the automotive industry, Morgan Stanley's bearish attitude towards Tesla (TSLA.O) has noticeably weakened. Previously, Morgan Stanley appointed Rajat Gupta to take over from Ryan Brinkman in tracking the automotive sector, the latter of whom has long been one of Wall Street's most negative analysts on Tesla stock. After Gupta took over, Morgan Stanley raised its target price for Tesla to $475 and upgraded the stock to a level equivalent to hold. Brinkman has been advising to sell Tesla stock since 2015 and once predicted that its stock price would plummet to $145 by the end of the year. Gupta, who previously worked under Brinkman, praised Tesla's vertical integration model's "unique advantages" in a report released on Friday, stating that this advantage "has not yet been fully recognized and understood to a certain extent."