Tesla Inc. (NASDAQ:TSLA) saw its stock soar by over 10% on Monday, marking the largest single-day gain since the close of January 2023.
The price surge increased the EV maker’s market cap by $80 billion in just one day. Tesla’s valuation hit the $870 billion mark, leaving companies like Warren Buffett‘s Berkshire Hathaway Inc. (NYSE:BKR) (NYSE:BKR) and Meta Platforms Inc. (NASDAQ:META) in its rearview mirror.
Chart: Tesla Inc Notches One of The Best-Performing Session In 2023
Morgan Stanley Turns Bullish On Tesla
The catalyst: Morgan Stanley’s analyst Adam Jonas shifted his stance on Tesla, moving the stock from Equalweight to Overweight. He also hiked the price target from $250 to $400, which is nearly 50% higher than current market prices.
The reason: Tesla’s Dojo supercomputer. Morgan Stanley sees the potential of Dojo adding $500 billion to Tesla’s enterprise value. This optimism is rooted in the belief that the supercomputer will expedite adoption rates in mobility, particularly robotaxis, and network services.
Morgan Stanley emphasized the importance of identifying scalable, high-potential ventures that haven’t been fully factored in by the market. The ...Full story available on Benzinga.com
Related tickers: BKR, RXI, UCC, VCR, XLY, QCLN, TSLA, FDIS, PP, ARKQ, ARKK, META, WANT, VCAR.
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