Tesla Becomes Morgan Stanley Car Industry Investment First Choice
Morgan Stanley listed Tesla as a "top pick" in the U.S. auto sector, replacing Ford and driving Tesla shares up 5.6 per cent at the close of trading on Monday.
Morgan Stanley has named Tesla as the "top pick" in the U.S. automotive industry, replacing Ford (F). This move led to a significant 5.6% rise in Tesla's (TSLA) stock price at Monday's close.
Morgan Stanley analysts believe investors will gradually shift towards renewable energy sectors, with Tesla being the most involved in this field. Analysts pointed out that Tesla's energy business could become more valuable than its automotive operations in the future.
As many traditional automakers slow down their electric vehicle development, Tesla will continue to lead in the carbon credit sales sector. In the second quarter, Tesla generated approximately $2,000 in revenue per car sold.
Morgan Stanley analysts stated, "We estimate that Tesla may account for half of the market's carbon credit sales, and this 100% gross margin business might not yet be fully recognized by the market."
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