Morgan Stanley raises Tesla target based on delivery numbers, but firm still on the sidelines

A Tesla Inc. vehicle charges at a charging station in San Mateo, California, U.S., on Tuesday, Sept. 22, 2020.
David Paul Morris | Bloomberg | Getty Images

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Morgan Stanley raised its price target on Tesla based on higher-than-expected vehicle delivery numbers, although analyst Adam Jonas continues to hold an equal-weight rating on the stock.

He lifted his base case target on Tesla from $272 to $333, which is roughly 26% below where shares closed on Thursday.