Tesla: Morgan Stanley cuts target price
(CercleFinance.com) - Morgan Stanley cut its target price for Tesla, wondering if the Californian electric carmaker will be self-financing in 2019.
The broker has cut its target price for the stock from 291 dollars to 283 dollars, but maintains its "equal weight" rating.
"We believe 2019 will help answer a core question for Tesla bulls and bears alike: Can the company fund its growth ambitions without the need for external capital?," Morgan Stanley wrote in the note.
"Expectations appear reasonably managed, but the stock remains fully valued," it insisted.
Shares of Tesla are currently up 1.3% at 317 dollars. They have lost 5% year-to-date.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker has cut its target price for the stock from 291 dollars to 283 dollars, but maintains its "equal weight" rating.
"We believe 2019 will help answer a core question for Tesla bulls and bears alike: Can the company fund its growth ambitions without the need for external capital?," Morgan Stanley wrote in the note.
"Expectations appear reasonably managed, but the stock remains fully valued," it insisted.
Shares of Tesla are currently up 1.3% at 317 dollars. They have lost 5% year-to-date.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.