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Tesla Target Cut as Morgan Stanley Sees ‘Air Pocket in Demand’

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Model 3 Demand Is Potentially a Lot More Than Expected, Tesla Analyst Rusch Says

Tesla fell 1.7 percent pre-market Tuesday, after Morgan Stanley forecast “an air pocket in demand that is coming earlier than we expected,” and cut its price target on the electric-vehicle maker to $260 from $283.

“For what many investors believe to be a high growth tech firm, TSLA has made notable moves to cut costs/prices & stimulate orders,” the firm wrote, referring to Tesla’s recent decision to cut prices and shutter stores.