) Dojo supercomputer could power a near $600 billion jump in the automaker’s market value by boosting the adoption of robotaxis and its software services, Morgan Stanley analysts said.
Dojo can open up new addressable markets that “extend well beyond selling vehicles at a fixed price,” Morgan Stanley analysts, led by Adam Jonas, said in a note on Sunday. The Wall Street brokerage upgraded its recommendation on Tesla’s stock to “Overweight” from “Equal-weight” and made it their “top pick,” replacing Ferrari’s U.S.-listed shares .Morgan Stanley raised its 12-18 month target on Tesla’s shares by 60% to $400 - the highest among Wall Street brokerages as per LSEG data - which, it estimated, would give the EV maker a market capitalization of about $1.39 trillion.
Jonas expects the unit to account for more than 60% of Tesla’s core earnings by 2040, nearly doubling from 2030.
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