Tesla rises 2% as Morgan Stanley backs AI, robotics efforts with 'top pick' status

Business

Tesla shares rose 2 per cent on Monday after Morgan Stanley reinstated the electric-vehicle maker as its top U.S. auto pick, saying the company's artificial intelligence and robotics efforts could power growth even as the mainstay car business stumbles. The note dated Sunday was the latest from analyst Adam Jonas, a longtime Tesla bull who has praised the company's push beyond autos as sales face pressure from high U.S. borrowing costs and fierce Chinese competition including from BYD. Industry

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