Tesla holds $300 as analysts dig in

|By:, SA News Editor

Morgan Stanley's Adam Jonas admits surprise at how quickly Tesla (NASDAQ:TSLA) ran up to $300, but also back up his firm's long-term bullish call on the stock.

He attributes the share price gains to an "understanding" by investors of Tesla's true addressable market.

"While difficult to quantify, we have long felt that one of Tesla’s most important areas of value is its captive ecosystem of data-collecting transport machines with close proximity to real-time data that may have any number of adjacent purposes for monetization and/or deepening of the strategic moat," writes Jonas.

Tesla ran up to as high as $304.81 yesterday vs. the Morgan Stanley price target of $305. Some investors are curious on if bullish analysts like Jonas recommend taking profit as PTs are hit or if the bearish side blinks first by raising their own PTs (Cowen $155, Goldman Sachs $187, Deutsche $240).