Morgan Stanley Falls Behind Peers by Cutting Tesla Target
Morgan Stanley’s Adam Jonas turned less optimistic about Tesla Motors Inc.’s share price than his analyst peers on Thursday for the first time in almost a year. Jonas reduced his projection to $245, about 8 percent below the average estimate in a Bloomberg survey, in cutting his rating on the electric-car maker to equal weight from overweight. Last year, his targets exceeded the average by as much as 57 percent.
For a closer look at Jonas’s call, click here.