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23

Elon Musk Just Lost His Biggest Fan on Wall Street

By Tony Seruga

Adam Jonas now has an “equal weight” rating on Tesla.

There was a time when Morgan Stanley Analyst Adam Jonas thought shares of Tesla Motors Inc. would nearly double. But after Chief Executive Officer Elon Musk presented a $2.86 billion plan to combine Tesla and SolarCity Corp., the analyst is drastically cutting his price target and downgrading the stock.

Adam Jonas, who’d had an overweight rating on shares of the electric vehicle company since September 2012, is lowering the stock to equal weight and taking his price target to $245 from $333. His target had been as high as $465 late last year…

Elon Musk Just Lost His Biggest Fan on Wall Street

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