Tesla, Morgan Stanley’s ‘top preferred car’… Stock up 5.6% (Summary)

Tesla charging station in California, USA
[AFP News Agency Photo. Redistribution and DB prohibition],
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, ‘(Los Angeles= Yonhap News) Reporter Lim Mina = US electric car company Tesla saw its stock price rise over 5% after being named the top pick in the automotive sector by investment bank Morgan Stanley on the 29th local time.’,
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, ‘ On that day, Tesla’s stock price on the New York Stock Exchange closed at $232.10, up 5.60% from the previous day.’,
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, ‘ At one point in the morning, it surged to $234.27, a 6.58% increase.’,
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, ‘ The year-to-date decline for Tesla has decreased to -6.57%.’,
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, ” According to online media Tesla Rati, Morgan Stanley analyst Adam Jonas raised Tesla’s target price to $310 and upgraded its investment rating to ‘overweight,’ replacing Ford as the top pick in the US auto sector.”,
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, ‘ Jonas evaluated that Tesla has aggressively realigned resources, technology, human resources, and capital in the automotive sector by significantly lowering its breakeven point through extensive restructuring in the second quarter, enabling future positive cash flows.’,
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, ‘ He also forecasted that Tesla could take a “much more dominant position” in the electric vehicle market as other traditional internal combustion engine car companies withdraw their plans for electric vehicle expansion.’,
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, ‘ Furthermore, he pointed out that investors are paying attention to Tesla’s energy-related business as the increasing demand for energy triggered by generative AI could offer significant commercial opportunities for Tesla’s AI technology not only in autonomous driving but also in other areas.’,
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, ‘ Tesla’s second-quarter revenue from energy generation and storage business increased by 100% from the same period last year to $3.014 billion, approximately 4.179 trillion won.’,
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, ‘ However, Tesla’s second-quarter automotive revenue of $19.878 billion decreased by 7% compared to the same period last year, leading to a 12% drop in its stock price the day after the earnings announcement on the 24th. mina@yna.co.kr’,
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