In December of last year, analysts from CWEB predicted that Tesla (TSLA) stock could soar to $1,000, driven by the company’s immense potential for growth under Elon Musk’s leadership and its innovations in electric vehicles, autonomy, and infrastructure. At the time, CWEB’s optimistic forecast was fueled by Tesla’s dominance in the electric vehicle market and its developments in charging infrastructure, software upgrades, and media content.
However, more recently, Morgan Stanley analyst Adam Jonas revised his valuation, lowering Tesla’s target price to $800 from his original estimate of $1,000. Despite this reduction, Jonas continues to emphasize Tesla’s robust growth prospects, especially in its network services segment, which includes autonomy and the expanding autonomous rideshare business.
Jonas now projects that Tesla’s network services could contribute $168 per share to the overall value, accounting for nearly 39% of the revised $800 price target. In addition, Tesla’s autonomous robotaxi service is valued at $90 per share, which is higher than the valuation of its core automobile business. These areas of growth point to Tesla’s ability to generate revenue beyond just car sales.
In his updated bull case, Jonas envisions Tesla selling 7 million vehicles by 2030 with a 26% gross margin, with the core auto business valued at $130 per share. Meanwhile, ridesharing services are expected to contribute a significant $263 per share, making up 33% of the $800 target. Tesla’s network services segment alone is expected to add $248 per share in value.
Even though CWEB’s original $1,000 target was bolder, Morgan Stanley’s outlook remains highly favorable, especially considering the transformative potential of Tesla’s artificial intelligence and autonomous driving technologies. With these key areas driving long-term value, Tesla presents a strong investment case as the company continues to lead in innovation and expand its offerings beyond vehicles.
For investors looking for long-term growth and exposure to cutting-edge technologies, Tesla remains an attractive buy, despite the recent price target adjustment. The company’s leadership in electric vehicles, autonomy, and emerging technologies positions it to deliver significant returns as the market evolves.
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