This may sound familiar: Morgan Stanley analyst Adam Jonas makes an extraordinarily bullish call on the future of Tesla Inc. and the shares go on a wild binge.
It happened in 2015, and it’s happening again this week. The problem is investors fear we’re seeing a replay — because after eight years Jonas’ last call has yet to be proven correct.
In 2015, Jonas raised his target on Tesla by 66% based on the company’s potential to develop a “shared mobility” business. At that time he predicted that Tesla would roll-out fully self-driving taxis by around 2025. That hasn’t panned out, leading the analyst to significantly pare down his expectations for the robo-taxi operation over the years.
Delevska and Braakman aren’t alone. Owuraka Koney of Jennison Associates, another long-term believer in Tesla, said in an interview in July that fully self-driving automobiles remain years away, and until then the car business is key to the company’s growth.
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