TSLA - MORGAN STANLEY STICKS WITH TESLA DESPITE VALUE DROP Morgan Stanley’s Adam Jonas reaffirmed an Overweight rating and 410 price target on Tesla, citing its strengths beyond electric vehicles. Despite recent value pressures, Jonas sees major growth potential in Tesla’s physical AI capabilities—like autonomous vehicles, robotics, energy storage, and manufacturing infrastructure. He argues no other company matches Tesla's positioning in data, AI, robotics, and supporting networks. While traditional EVs face headwinds, Tesla’s broader tech ecosystem remains compelling. Jonas envisions future synergies across Elon Musk’s companies, such as SpaceX integration with Tesla vehicles and AI systems like xAI and Optimus working together. Tesla remains his top U.S. auto pick.