Morgan Stanley upgrades Tesla (NASDAQ:TSLA) to an Overweight rating from Equal weight.

Analyst Adam Jonas “Tesla is on the verge of a profound model shift from selling cars to generating high margin, recurring software and services revenue.Tesla has continued to develop its services/platform business to a level where we feel that it is appropriate for investors to consider to change how they model the company’s revenue and profit streams. “The internet-of-cars opportunity is real and, in our opinion, is a prerequisite to unlock further upside to the stock.”  Source Seeking Alpha

Morgan Stanley’s price target on Tesla is $540 vs. $360 prior

As of 9:38 AM $476.925 Today’s Change +$35.315(8.00%) Today’s Change -37.1MAbove Avg.

Trend Analysis

TSLA appears to be consolidating within a longer-term uptrend. Shares are presently above the 200-day moving average, which is rising along with the 10-day moving average. However, the Average Directional Index, or ADX, is below 20, indicating that shares have exhibited sideways movement recently. Comparative Relative Strength analysis shows that this issue is lagging the S&P 500.As of 12:23 PM ET Wednesday, 11/18/2020. Momentum

Momentum for TSLA is strongly bullish. The 14-period Slow Stochastic Oscillator is rising, as investors pay higher prices for shares.

Source :Charles Schwab