Tesla: Morgan Stanley upgrades to 'equal-weight'
(CercleFinance.com) - Morgan Stanley upgraded the Tesla share from "underweight" to "equal-weight," despite the near-term negative economic impact stemming from the COVID-19 crisis.
The US broker believes that the Californian electric carmaker has sufficient liquidity and access to capital to weather the near-term disruptions to both production and sales, it said in a note sent to clients on Thursday.
Morgan Stanley has trimmed its target price for the stock from 480 dollars to 460 dollars, with the stock currently trading below this level, which prompts the broker to see a "more balanced risk-reward."
The Tesla share is currently up 12% on the Nasdaq.
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