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Morgan Stanley Analyst Says Many Investors ‘Absolutely Adore’ Musk’s Dominating Strategy – Yahoo Finance

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Morgan Stanley Analyst Says Many Investors ‘Absolutely Adore’ Musk’s Dominating Strategy  Yahoo Finance


<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Morgan Stanley analyst Adam Jonas on Wednesday said&nbsp;Tesla Inc. (NASDAQ: TSLA)&nbsp;Chief Executive Officer Elon Musk’s stance against county orders are appreciated by many investors.” data-reactid=”19″>Morgan Stanley analyst Adam Jonas on Wednesday said Tesla Inc. (NASDAQ: TSLA) Chief Executive Officer Elon Musk’s stance against county orders are appreciated by many investors.

Tesla CEO’s ‘Wanton Disregard’ For Traditions Seen As Strength

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Musk's style has been a strategy of "play to win" or "play to dominate," Jonas said on the CNBC's "Squawk Alley."” data-reactid=”21″>Musk’s style has been a strategy of “play to win” or “play to dominate,” Jonas said on the CNBC’s “Squawk Alley.”

His “wanton disregard for traditional business communication norms” may ruffle “some feathers along the way,” but “many investors absolutely adore that and see that as a strength,” the analyst added.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Tesla restarted production at its Fremont factory in California late last week, going against county health orders. CEO Musk said he was ready to be arrested for it&nbsp;and had earlier referred to the restrictions as "fascist."” data-reactid=”23″>Tesla restarted production at its Fremont factory in California late last week, going against county health orders. CEO Musk said he was ready to be arrested for it and had earlier referred to the restrictions as “fascist.”

Alameda County officials ultimately caved in, saying they will allow the automaker to resume the production if it agrees to abide by social distancing and other guidelines.

Fremont Factory’s Importance Will Decrease

Musk said he would move the manufacturing plant out of California if the company isn’t allowed to restart work, a move that the analysts perceived as a very real threat.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="According to Jonas, costs involved in manufacturing in California had pushed many automakers in the 20th century, including General Motors Company (NYSE: GM), and Toyota Motor Corp. (NYSE: TM), and Tesla could soon follow suit.” data-reactid=”27″>According to Jonas, costs involved in manufacturing in California had pushed many automakers in the 20th century, including General Motors Company (NYSE: GM), and Toyota Motor Corp. (NYSE: TM), and Tesla could soon follow suit.

“There is no doubt in our mind that over time, that Fremont’s proportion of global production will go down and we think the next plant is clearly going to be in Texas,” the long-term Tesla backer told CNBC.

Morgan Stanley has an “equal-weight” rating on Tesla, with a price target of $680.

Tesla Price Action

Tesla shares closed 2.3% lower at $790.96 on Wednesday. The shares traded slightly higher in the after-hours session at $799.79.

Latest Ratings for TSLA

Date Firm Action From To
May 2020 Morgan Stanley Maintains Equal-Weight
Apr 2020 Oppenheimer Maintains Outperform
Apr 2020 B of A Securities Reiterates Underperform

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="View More Analyst Ratings for TSLA
View the Latest Analyst Ratings” data-reactid=”35″>View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”41″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Source: finance.yahoo.com

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