Morgan Stanley’s Adam Jonas has cut his $TSLA PT to $1,200 from $1,300. Maintains his Overweight rating. Reflects:
- Increase in WACC to 9.0% from 8.5%
- Reducing 2Q vols to 270K from 316K, and auto GM ex-ZEV to 24.6% from 25.8%
- Reducing FY’22 vols to 1,390K from 1,425K. pic.twitter.com/s2RkDDqB4f

— Gary Black (@garyblack00) June 22, 2022