Rally

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 <p>According to Morgan Stanley analyst Adam Jonas, Tesla could see a 60% rally in its stock price, raising its 12 to 18-month target to $400. Moreover, the analyst upgraded the company’s stock from “equal weight” to “overweight.” Jonas’s forecast for the automobile company is currently the highest among Wall Street analysts.</p> 
 <p>Jonas attributed the positive forecast to the electric car manufacturer’s Dojo supercomputer. As per the analyst’s forecast, the custom supercomputer could unlock new markets for the company. Furthermore, he believes that the supercomputer would add another $500 billion to Tesla’s value.</p> 
 <p><strong>Also Read: How to Buy Tesla Stock on eToro?</strong></p> 
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 <p>Jonas believes an increase in valuation would be driven by faster adoption of mobility and network services. While many have debated whether Tesla is a car company or a tech company, the analyst suggested that the company is both. It should be noted that Jonas previously downgraded Tesla’s shares in June. As per the current estimations, the supercomputer could generate up to $6.5 billion in savings for Tesla.</p> 
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 <h3 class="wp-block-heading" id="h-why-is-morgan-stanley-bullish-on-tesla-s-dojo-supercomputer">Why is Morgan Stanley bullish on Tesla’s Dojo supercomputer?</h3> 
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  <img decoding="async" width="1024" height="512" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Tesla to Reportedly Begin Making Electric Motors for Airplanes, Boats, and More" class="wp-image-68629 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp.webp 300w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp.webp 768w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp.webp 380w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp.webp 550w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp.webp 800w" data-srcset-img="https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 1024w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 300w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 768w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 380w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 550w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 800w" data-eio="j"> 
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   <img decoding="async" width="1024" height="512" src="https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp" alt="Tesla to Reportedly Begin Making Electric Motors for Airplanes, Boats, and More" class="wp-image-68629" srcset="https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 1024w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 300w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 768w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 380w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 550w, https://cdn.thebittimes.com/images/2023/09/11/a6fe61d8edb8724cf50ad55a0d6b1e78.webp 800w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: Electrek 
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 <p>Dojo’s initial design was to process video data from Tesla’s fleet of cars and enhance auto-driving capabilities. However, researchers saw that its applications could go beyond the automobile industry. According to Jonas, there is a lot of potential for Dojo’s use in robotics, healthcare, security, and more. In fact, Jonas believed that every device with a camera could benefit from Dojo’s capabilities. He added, </p> 
 <p><strong>“The more we looked at Dojo, the more we realized the potential for underappreciated value in the stock. Like many other large-cap tech stocks on your screen, we believe Tesla can reasonably test its all-time highs of $400 over the next 12 months.”</strong></p> 
 <p><strong>Also Read: Tesla’s Surprise Collaboration with McDonald’s Unveils “Cyber Spoons” in China</strong></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/morgan-stanley-analyst-predicts-60-rally-for-elon-musk-s-tesla-tbt62261.html">https://thebittimes.com/morgan-stanley-analyst-predicts-60-rally-for-elon-musk-s-tesla-tbt62261.html</a></p>

Morgan Stanley Analyst Predicts 60% Rally for Elon Musk's Tesla

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