Sign In  |  Register  |  About Mill Valley  |  Contact Us

Mill Valley, CA
September 01, 2020 1:29pm
7-Day Forecast | Traffic
  • Search Hotels in Mill Valley

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Tesla stock price forecast: Adam Jonas sees upside to $400

By: Invezz
tesla stock price forecast morgan stanley adam jonas

Shares of Tesla Inc (NASDAQ: TSLA) are trending up after a Morgan Stanley analyst dubbed the EV giant a “top pick” in his super bullish note on Monday.

Tesla stock could climb to $400

Adam Jonas upgraded the electric vehicles company to “overweight” today and raised his price objective significantly to $400 which represents about a 60% upside from here.

His bullish call is based primarily on Dojo – a supercomputer designed and built by Tesla to power autonomous driving in its vehicles.

Investors have long debated whether Tesla is an auto company or a tech company. We believe it’s both, but see biggest value driver from here being software and services revenue.

Last month, the multinational launched lower priced variants of its Model S and Model X in the United States (read more). Tesla stock is already about 150% year-to-date.

Dojo is powered by a custom AI chip

Adam Jonas expects the said supercomputer to eventually be worth $500 billion in enterprise value.

He’s positive on Tesla stock also because the company has built a custom AI chip that powers Dojo and is reportedly more energy efficient than the ones from Nvidia Corp. His research note reads:

While it’s difficult to explicitly validate many claims about Dojo, Tesla has a chance of bringing forth a competitive customised solution given its innovation track record and capabilities.

Tesla Inc is expected to report its Q3 results next month. Consensus is for it to earn 67 cents a share versus 95 cents per share a year ago.  

The post Tesla stock price forecast: Adam Jonas sees upside to $400 appeared first on Invezz.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 MillValley.com & California Media Partners, LLC. All rights reserved.