Morgan Stanley analyst Adam Jonas updated his "bull case scenario" on Tesla Inc (NASDAQ: TSLA) to $2,070 and also said the company is likely to post a Q2 GAAP profit in this month. Jonas upped his price target on Tesla (NASDAQ: TSLA) shares to $740.
"Tesla has demonstrated one very powerful differentiating quality vs. many of its auto peers: demand is holding up better." Jonas mentioned in his note.
It's nice to see Wall Street analysts finally started to change their valuation on Tesla, but a more realistic price target other than something like $740 is definitely more welcome.