Tesla stock is top pick at Morgan Stanley ahead of earnings

Tesla Inc. stock is a top pick at Morgan Stanley, which predicted a “shake out” for the electric-vehicle maker as companies jockey for market share and run the risk of oversupplying the market.

Tesla TSLA is scheduled to report fourth-quarter earnings after the bell Wednesday. The company cut prices between 6% and 20% on its EVs in Europe and in the U.S. earlier this month, a move that has divided Wall Street.“As the leader in global EVs, Tesla’s more aggressive posture on price applies significant fundamental pressure on its peers,” Morgan Stanley analyst Adam Jonas said in his note.

“In our view, the price cuts are indeed in response to slowing incremental demand relative to incremental supply,” Jonas said. Tesla earnings comes as Chief Executive Elon Musk finished his testimony in a federal trial around his going-private tweets, saying he thought he had funding to move forward, and that he was considering the deal.

Morgan Stanley should not be covering Tesla stock. Conflict of interest given how much TWTR debt it holds linked to Elon Musk. They can’t be objective. There really aren’t Chinese walls at brokerage firms.

Tesla is a King of EV world 🌍

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