Morgan Stanley: Tesla Stock Could Hit $500
Tesla’s share price could soar to $500 if the company sells a lot of Cybertrucks and its Chinese gigafactory performs better than expected, a Morgan Stanley analyst has said in a note. According to Adam Jonas’s “bull case” for the EV maker, Tesla could be selling as many as 100,000 Cybertrucks annually by the end of 2024, with the average price tag at $50,000, CNBC reports. Currently, plans for the gigafactory are to churn out 3,000 vehicles per week beginning in the first quarter of 2020, Electrek reported earlier this week, adding that some 200 Model 3 cars were spotted at the facility. “We are cautious on Tesla’s prospects in China, given geopolitical/CFIUS concerns, we believe that the Model Y will likely cannibalize a significant amount of demand for the Model 3, and see Berlin Giga as a first step for Tesla to ultimately be seen by investors as an auto company rather than a high growth tech firm, with valuation reflecting that at some point.”.