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Update: Morgan Stanley Adjusts Price Target on Tesla to $400 From $417 on 'Elevated Cash Burn', Maintains Equalweight Rating

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(Updated to include Morgan Stanley commentary)

Morgan Stanley lowered Tesla's (TSLA) price target to $400 from $417, reflecting prolonging cash burn due to accelerating capital expenditures.

The heavy capital expenses cycle is necessary for he EV maker to retain its position in robotics and autonomy. However, timing for return on investment to be tangible remains unknown, resulting in a lower valuation.

Tesla has an average rating of hold and mean price target of $392.39, according to analysts polled by FactSet.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Price: $320.64, Change: $-53.37, Percent Change: -14.27%

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