Tesla Shares May Be at ‘Emerging Peak,’ Morgan Stanley Says
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Tesla Inc.’s extraordinary efforts to deliver Model 3s before the end of the year could drive a substantially higher cash flow in the fourth quarter, Morgan Stanley analyst Adam Jonas said.
Under the most bullish scenario, cash flow in the final quarter could be as high as double that of third-quarter levels, Jonas wrote in a note. But that’s not his base case. The analyst currently expects adjusted free cash flow of $648 million for the fourth quarter, compared to $738 million in the prior.