Morgan Stanley Reaffirms Their Buy Rating on Tesla (TSLA)

In a report released yesterday, Adam Jonas from Morgan Stanley maintained a Buy rating on Tesla (TSLAResearch Report), with a price target of $220.00. The company’s shares closed yesterday at $183.26.

According to TipRanks, Jonas is a 5-star analyst with an average return of 7.1% and a 48.17% success rate. Jonas covers the Consumer Goods sector, focusing on stocks such as Tesla, Rivian Automotive, and AutoNation.

In addition to Morgan Stanley, Tesla also received a Buy from Barclays’s Dan Levy in a report issued on March 13. However, yesterday, Bernstein reiterated a Sell rating on Tesla (NASDAQ: TSLA).

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Based on Tesla’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $24.32 billion and a net profit of $3.71 billion. In comparison, last year the company earned a revenue of $17.72 billion and had a net profit of $2.33 billion

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TSLA in relation to earlier this year. Most recently, in December 2022, Kirkhorn Zachary, the CFO of TSLA bought 13,500.00 shares for a total of $248,940.00.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Tesla, Inc. manufactures and sells fully electric vehicles, solar energy generation systems and energy storage products. It also operates a network of vehicle service centers and Supercharger stations. The company operates through two segments: Automotive and Energy Generation & Storage. Founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003, the company is headquartered in Palo Alto, CA.

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