Shares of Tesla Inc. TSLA climbed 5.8% in premarket trading on Monday after Morgan Stanley lifted the electronic-vehicle maker to buy from hold.
Tesla analyst Adam Jonas based much of his upgrade on Tesla’s new machine learning supercomputer, Dojo. His price target was lifted to $400 from $250 per share. “Dojo specializes in processing visual data and is a tailored tool to solve autonomous operations, be that for vehicles, factories or humanoid robots. This adds Tesla to a list of companies that have also developed their own, proprietary computing solutions,” said Jonas and other analysts in a note.
“For Tesla, this means that autonomy could potentially become a reality sooner than previously expected, reflected in the auto team’s Tesla upgrade to overweight and move to top pick,” Jonas added.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »