[Brokerage Focus] Morgan Stanley gives Tesla (TSLA) an "Overweight" rating, citing record-high fourth-quarter deliveries but missing expectations.
金吾财讯2025-01-03
Jinwu Finance News |Morgan StanleyThe research report indicates that,Tesla(TSLA) delivered approximately 3% fewer vehicles in the fourth quarter than market expectations. Although the group ultimately failed to achieve its "slight growth" target for fiscal year 2024, deliveries of 495,600 vehicles during the quarter set a company record and were more than 10,000 vehicles higher than the same period in 2023. In addition, the bank mentioned that Tesla's deliveries in the fourth quarter exceeded production by 36,000 vehicles, reducing inventory days by 6 to 7 days. The bank believes that Tesla's weaker-than-expected performance reflects the relative aging of its products, and that the increased supply of lower-priced competing products globally is sufficient to offset the power of pre-orders and promotions before the group launches a cheaper new model (Juniper) in early to mid-2025. Morgan Stanley has given it an "overweight" rating with a target price of $400.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
