Morgan Stanley advises buying Tesla stock for rebound

Morgan Stanley analyst Adam Jonas recommends buying Tesla shares, which have fallen 45% this year. He maintains an overweight rating and a price target of $430, suggesting a potential 93.6% rebound from recent lows. Tesla's stock dropped over 15% in one day, marking its worst performance since 2020. The decline is attributed to weak sales data and negative brand sentiment, overshadowing the company's advancements in artificial intelligence. Jonas noted that Tesla's upcoming events, including a robotaxi unveiling and an AI day, could serve as positive catalysts. Despite current challenges, most analysts still rate Tesla as a buy.