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Morgan Stanley Values Tesla at $800 per Share in Bull Case Scenario
Tesla is set to make "great strides" in autonomous vehicle development over time, with an initial introduction of its unsupervised AV fleet in cities likely next year, Morgan Stanley said in a note e-mailed Monday.In October, the electric vehicle maker unveiled prototypes of a two-seat vehicle called "Cybercab" and a 20-person vehicle, "Robovan.". Morgan Stanley raised its price target on the company's stock to $430 from $400 following a review of Tesla mobility, or robotaxi, with the business seen contributing $90. The brokerage continues to see the EV maker's stock as a top pick.Morgan Stanley said its base case calls for 7.5 million vehicles in the Tesla mobility fleet by 2040 and revenue per passenger mile of $1.46. Alphabet's Waymo operates at $2.40 per mile, in line with Uber's US gross bookings, the brokerage said in a note to clients."As we look ahead to and beyond, we expect to see aperture further expand to broader domains, many of which are still not included in buy-sid
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