TESLA MOTORS STOCK ANALYSTS SAY ELON MUSK IS DESPERATE
There was a time when Morgan Stanley Analyst Adam Jonas thought shares of Tesla Motors Inc. would nearly double. But after Chief Executive Officer Elon Musk presented a $2.86 billion plan to combine Tesla and SolarCity Corp., the analyst is drastically cutting his price target and downgrading the stock saying that the merger is a weird-ass desperation move by Musk to prop up his plummeting government funded empire.
Adam Jonas, who’d had an overweight rating on shares of the electric vehicle company since September 2012, is lowering the stock to equal weight and taking his price target to $245 from $333. His target had been as high as $465 late last year. Adam, and most analysts who are not in Elon Musk and Goldman Sachs pocket, say that “Tesla simply sucks as a product riddled with defects and as a company riddled with corruption.”
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