Welcome to Extreme Investor Network, where we bring you the latest updates and insights in the world of investing. Today, we’re diving into the recent developments at Tesla that have caught the attention of investors and analysts alike.
Tesla CEO Elon Musk’s recent trip to China to address hurdles in the company’s Full Self-Driving (FSD) effort has sparked optimism among analysts, including Adam Jonas from Morgan Stanley. Jonas sees Musk’s visit as a strong signal of his commitment to Tesla, despite recent challenges the company has faced.
In a report, Jonas reiterated his overweight rating on Tesla stock and set a price target of $310 per share, implying an impressive upside of more than 82% from the previous closing price. The market responded positively to Musk’s visit, with Tesla stock jumping as much as 14.4% following the news.
Musk’s dedication to Tesla has been a topic of discussion, especially since he took control of X (formerly Twitter) and faced pressure from investors after a controversial compensation package was rejected. Jonas believes that Musk’s visit to China and his focus on Tesla demonstrate his commitment to the company.
While Musk’s visit to China doesn’t guarantee a quick breakthrough in FSD technology, it does mark a significant milestone in Tesla’s journey towards achieving full autonomy. Beijing lawmakers had previously considered banning Tesla’s FSD over security concerns, making Musk’s efforts to clear this hurdle crucial for the company’s future success.
Despite facing challenges in 2024 and a 22% slump in stock price, Tesla remains optimistic about its plans for the future. The delayed rollout of a $25,000 electric sedan and missed earnings expectations have not dampened the company’s spirits, as Musk hinted at potential production starting as soon as 2025.
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