A day after the big Tesla upgrade that moved the market, one analyst disagrees. Here's why

📆 12/09/2023 21:44:00
📰 CNBC

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Needham is cautious on Tesla stock following a massive upgrade from Morgan Stanley's Adam Jonas.

Not all analysts on Wall Street are convinced Tesla 's in-house computer technology is enough to push shares higher. A day after Morgan Stanley's Adam Jonas upgraded Tesla to overweight from equal weight with a massive $400 per share price target — suggesting about 61% upside from Friday's close — Needham issued a dissenting take.

mountain Tesla stock. What underpinned the Morgan Stanley upgrade on Tesla was optimism toward the company's effort with Dojo, an in-house supercomputer that is meant to train autonomous driving software. Tesla also makes its own chips to power the technology.

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