Morgan Stanley's Adam Jonas gives his EV stock shopping list

The Rivian R1T on stage as a 2022 Truck of the Year Finalist at the LA Auto Show in Los Angeles, California on November 17, 2021.
Frederic J. Brown | AFP | Getty Images

A rotation out of growth and into value names has weighed on some electric vehicle stocks, but Morgan Stanley's Adam Jonas believes there's still upside to be found within the sector.

"Market de-risking has opened up some improved risk-rewards for select names under our coverage," he wrote Thursday in a note to clients. "Investors constructing EV portfolios may find some tasty truffles hidden in the underbrush."

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