Morgan Stanley analyst Adam Jonason Tuesday noted both product and market issues as he slashed target price and FY24 earnings estimates for EV giant Tesla Inc (NASDAQ:TSLA). Analyst Rating: The analyst cut the target price from $345 to $320 while maintaining an ‘overweight’ rating. Tesla Thesis: In a note, the analyst noted the several downsides plaguing Tesla at the minute including dwindling EV demand, older product line-up as compared to other automakers, heavy competition and price war in China, and not the least, the increasing popularity of hybrids over battery electric vehicles in the c…
