Keep an eye on Tesla (TSLA).
Since bottoming out at around $210, the electric vehicle stock has been trending higher. Last trading at $230, we’d like to see it refill its bearish gap at around $250 near term. Helping, analysts at Morgan Stanley just reiterated an overweight rating on the stock, heading into the company’s robotaxi day on October 10.
“Ahead of Tesla’s highly anticipated ‘Robotaxi’ day on October 10th, investors are contemplating various paths to commercialization and scaling of Tesla’s autonomous vehicle technology,” said the firm, as quoted by CNBC.
Deutsche Bank also resumed coverage of TSLA with a buy rating, naming the EV stock a top pick in the auto sector. “Near-term, automotive deliveries/margin have indeed been softer, but we view this as temporary ahead of new models/refreshes coming in the pipeline. Long-term, Tesla is an emerging leader in autonomous driving (robotaxi) and humanoid robots Optimus… which represent some of the most clear and lucrative applications of end-to-end AI,” said the firm, as also quoted by CNBC.
Sincerely,
Ian Cooper
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