The U.S. Stock Research Agency has learned that Morgan Stanley analyst Adam Jonas reiterated his interest in Tesla (TSLA. o) buy rating and raise its target price from $1200 to $1300. Jonas said better-than-expected fourth-quarter delivery data prompted him to raise his price target, which corresponds to Tesla's valuation of about $1.3 trillion. The analyst believes the valuation is reasonable because Tesla is far ahead of the electric car race. He said, "Think of the electric car race as a marathon. Tesla is 21 miles ahead. Others were either 2 miles away or still tying their shoelaces. "In addition, recent delivery data shows that Tesla is getting stronger and stronger as the race progresses.
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