As Tesla Stock Reels After A Rough Week Following Earnings, Top Analyst Defends Elon Musk's Ambitions For EV Giant Beyond Cars: 'Investors Should Not Overlook Tesla's Other Plays…'

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He contends that these sectors could offer greater shareholder value in the long run.“While negative developments in the global EV market could impact the stock in the near-term, investors should not overlook Tesla's other plays, including recurring revenue from the Tesla fleet and areas like Energy Storage and Optimus,” Jonas said in a note.

Despite these hurdles, Morgan Stanley analyst Adam Jonas suggests that investors are excessively focused on the company’s automotive challenges, while underestimating the potential value of Tesla’s energy, AI, and robotics divisions.

However, a top Wall Street analyst has stood by the company’s stock price target, shifting the focus to the potential value of Tesla’s non-automotive divisions.

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Article Details

Author / Journalist: Navdeep Yadav

Category: Technology

Markets: United States

Topics: Expert Ideas US88160R1014 Markets Elon Musk Equities TSLA Analyst Color Adam Jonas General Analyst Ratings Benzinga Electric vehicles News EVs Tech Mobility

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-29 @ 11:13:46 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 773 words

Reading Time: 5 minutes read

Sentences: 31 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21823359

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