Tesla (TSLA) Surges as Musk Gains Influence with Trump's Election

Nov 12, 2024

Morgan Stanley's recent report highlights Tesla's (TSLA, Financial) significant gains following the U.S. presidential election. CEO Elon Musk's public support for Republican candidate Donald Trump has shifted investor perceptions, with Tesla's stock price skyrocketing over 40%, reaching a two-year high. The market is now closely watching Tesla's expansion beyond automotive sales, including initiatives like the Cybertruck.

Looking ahead, Morgan Stanley anticipates Tesla will broaden its market reach next year, benefiting from the U.S. government's potential focus on electric vehicles, autonomous driving, robotics, and renewable energy. This may accelerate Tesla's growth beyond the automotive sector. The firm has assigned an "Overweight" rating to Tesla with a target price of $310, reflecting a projected 2030 enterprise value to EBITDA ratio of 14.5x.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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