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Tesla Bull Adam Jonas Cuts Rating Due to SolarCity Deal Risk

  • Morgan Stanley analyst reduces price target to $245 from $333
  • Stock plunged to below $200 after acquisition annnouncement
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Why Tesla Wants to Take Over SolarCity

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Morgan Stanley’s Adam Jonas, one of the most bullish analysts on Tesla Motors Inc., joined the ranks of those who have panned Elon Musk’s $2.86 billion proposal to combine the automaker with solar-panel provider SolarCity Corp.

Jonas, whose firm has underwritten securities offerings for Tesla, lowered his recommendation on the stock Thursday to equal-weight from overweight and reduced his 12-month target for the stock price to $245 from $333.