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Tesla is morphing into more than a car maker
Analyst sets Tesla stock price target at $578
New Street Research managing partner Pierre Ferragu provides insight into Tesla’s profitability, stock and future.
Elon Musk's Tesla is way more than just an electric-car maker, according to Morgan Stanley.
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That's why the firm says the stock can continue to climb, building on its 428% advance this year, as it transforms to a software/connected vehicle services provider — the “entry ticket” to a much larger business.
“To only value Tesla on car sales alone ignores the multiple businesses embedded within the company, and ignores the long term value creation arising from Tesla’s core strengths, driven by best in class software and ancillary services,” wrote analyst Adam Jonas.