Tesla stock has been on a tear this quarter that has boosted its value more than 60% in the fourth quarter to about $75 billion.
Morgan Stanley analyst Adam Jonas reiterated his $250 price target for Tesla stock, which could cut the car manufacturer's valuation by about 40%.Jonas said the stock will likely continue to rise as the company reaches milestones on these projects, but that long-term the stock will prove to be over-valued for a car manufacturer and the narrative will change.
stock past CEO Elon Musk's $420 per share takeout value, Morgan Stanley reiterated its $250 price target on the company. Morgan Stanley has an equal-weight rating on Tesla's stock. Jonas' $250 price target would slash Tesla's market cap from $75 billion as of Monday's market close to about $45 billion, marking a 40% cut.
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