Adam Jonas, a Managing Director at Morgan Stanley covering Tesla Motors and the automotive industry, is nothing if not persistent. During Tesla’s recent conference call to discuss third quarter financial results, the analyst again asked Tesla CEO Elon Musk about the possibility for the company to join the likes of Uber and Lyft in the ride-sharing industry.
Jonas first brought up the idea at Tesla’s last quarterly conference call after comments made by Tesla board member Steve Juvertson about Uber CEO Travis Kalanick potentially wanting to buy 500,000 autonomous Teslas by the end of the decade. First time around earlier this year, Jonas got a firm “no comment” from Musk, but nonetheless the CEO called his question “insightful” at the time. The second time around during this week’s call, Jonas pushed the question again and although Musk’s first reaction was not to comment, which is rare for the CEO, he implied that an announcement could be coming. expand full story
Adam Jonas, Managing Director at Morgan Stanley, published a note yesterday to update the firm’s price target on Tesla’s stock to $465 from $280. The updated price target includes a whole new business segment called “Tesla Mobility” which Jonas expects Tesla to announce within the next 12 to 18 months.