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Investing.com - Morgan Stanley (NYSE:MS) has reiterated its Overweight rating on Tesla (NASDAQ:TSLA) stock with a price target of $410.00, according to a research note released Monday. The target represents significant upside potential for the EV maker, which currently commands a market capitalization of nearly $1 trillion and trades at a P/E ratio of 168.5.
The investment firm maintained its positive outlook on the electric vehicle manufacturer despite noting changing preferences among its summer intern class, which it describes as "a window on the preferences of a future generation of business leaders and commercial influencers." According to InvestingPro data, Tesla maintains strong fundamentals with a current ratio of 2.04, indicating solid short-term financial health.
Morgan Stanley’s research revealed that only 5% of its interns listed Tesla as their "most desirable car brand," representing a significant decline from 11% in the previous year’s survey.
The firm also observed a sharp decrease in preference for Tesla’s robotaxi service among its interns, with interest falling to 12% from 31% previously.
Despite these shifting sentiment indicators among younger potential consumers, Morgan Stanley has kept its bullish stance on Tesla stock unchanged, maintaining both its Overweight rating and $410.00 price target.
In other recent news, Tesla has secured a significant $4.3 billion agreement with LG Energy Solution to procure lithium iron phosphate batteries for its energy storage systems. The batteries will be sourced from LG’s Michigan plant and the deal spans from August 2027 to July 2030, with potential extensions. Additionally, Tesla’s Board of Directors has approved a substantial stock award for CEO Elon Musk, granting him 96 million shares of restricted stock under the 2019 Equity Incentive Plan. The award, known as the 2025 CEO Interim Award, includes a two-year vesting period, requiring Musk to remain in a leadership role for the shares to vest.
In terms of analyst perspectives, Morgan Stanley has reiterated its Overweight rating on Tesla, maintaining a price target of $410.00. The firm highlighted insights from its summer intern class, noting a decline in brand appeal among the younger generation. Piper Sandler also maintained its Overweight rating with a $400.00 price target, addressing media characterizations of a recent court verdict that found Tesla partially liable for a 2019 crash. The firm suggested that the coverage of the potential $243 million obligation for Tesla might be overstated. These developments reflect ongoing interest and scrutiny in Tesla’s operations and leadership.
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