Tesla Replaces Ford As Morgan Stanley's 'Top Pick' As Brokerage Sees Potential In EV Giant's Energy And Service Segments

Quick Summary:

Tesla will have more automakers looking to buy zero-emission vehicle credits from it as legacy players pull back on their EV plans and service revenue should grow as Tesla’s car population increases, the brokerage noted, while adding that margins derived from after sales and service are typically far higher than sale margins.“We estimate Tesla may ...

What Happened: Morgan Stanley said in a note on Monday that Tesla is cutting costs in the auto segment and also redeploying resources to other business segments as EV demand falls.

EV giant Tesla Inc (NASDAQ:TSLA) has replaced Ford Motor Co (NYSE:F) as Morgan Stanley’s “Top pick” in the U.S.auto industry.

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Article Details

Author / Journalist: Anan Ashraf

Category: Technology

Markets: United StatesChina

Topics: Electric vehicles US3453708600 TSLA Analyst Color Benzinga US88160R1014 F EVs Mobility Tech News Morgan Stanley

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-30 @ 08:37:29 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 512 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 29 words per sentence (average)

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

Copyright Owner: © Benzinga

News ID: 21852659

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