Tesla Stocks rise 10% after AI-related upgrade
Los Angeles — Tesla stocks jumped nearly 10% Monday following a Morgan Stanley analysis citing the potential of the company’s Dojo supercomputer to boost the company’s market value, opening up new markets beyond electric vehicles such as AI.
The Morgan Stanley team upgraded the electric car maker from Equal Weight to Overweight and boosted its price target 60% from $250 to $400.
The tech heavy Nasdaq Composite rose more than 1% after Tesla’s solid gains as Wall Street stocks rose following tech share rebounds.
The S&P 500 gained 0.67% to 4,487.46 while the Dow Jones Industrial Average rose 0.25% to 34,662.72
