Tesla: Morgan Stanley upgrades stock
(CercleFinance.com) - Tesla shares gained over 6% in New York, benefiting from an analysis by Morgan Stanley, which raised its rating on the stock from 'neutral' to 'overweight', with a price target raised from $250 to $400.
In its note, Morgan Stanley suggests that Tesla can follow Amazon Web Services' (AWS) growth model by generating significant revenues from software and services.
According to the analyst, Dojo, the custom supercomputer developed by Tesla to enhance its autonomous driving system, could play a key role in this evolution and give the automaker an edge in a market worth some $10,000 billion.
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