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Barclays and Morgan Stanley continue to hold underweight ratings on the electric vehicle maker, but both firms said Tuesday that the stock is poised for more upside — at least in the near term.
"While we still believe TSLA is fundamentally overvalued, we see nothing to prevent the shares moving higher in the coming weeks," Barclays said. "Our long-term concerns remain, but are not seen as tangible or near-term to stop the rally," added Adam Jonas, Morgan Stanley's widely-followed auto analyst.
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