What happened? a huge investment bank, has warned investors of a & # 39; risk & # 39; that they have no shares. It means the people who don't own Tesla stock will regret it as Musk's company will continue to increase its value.
Why is Morgan Stanley so confident about Tesla's growth?
The main reason is Biden's infrastructure plan, which is positive for Tesla. The US president plans to fight climate change and decarbonise the US by 2050. He will spend $ 174 billion to develop the US electric vehicle ecosystem, where Tesla performs best.
"Auto investors face greater risk. Do not risk owning Tesla stock in their portfolio than owning Tesla stock in their portfolio."
Morgan Stanley, however, warned that Tesla & # 39; s way up will not be easy and fast. Indeed, this year the carmaker is down about 5%, which is actually not that bad. It could be seen as a great opportunity for investors to buy Tesla at a lower price. In comparison : Tesla was up 743% last year, so there is a good chance that Tesla will catch up. Incidentally, Musk's company released better-than-expected car deliveries last week, despite the worldwide shortage of chips.
Forecasts Morgan Stanley set a price target for Tesla at $ 880. According to Bloomberg, the average analyst target is $ 651, with 17 buy recommendations, 13 h oldings and 12 sales.
Technical Analysis
Tesla formed the ascending triangle pattern . The rising triangle pattern shows that bulls are getting stronger. As a result, the slope goes up. If the prize manages to break the April 5th high of $ 708.00, the way up to the next round number of $ 750.00 will be open. In the opposite scenario, the move below the March 31 low at $ 640.00 Tesla will float towards the lower trendline at $ 600.00.
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