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Morgan Stanley's Adam Jonas discouraged on Tesla's post-election outlook

Published 11/11/2016, 02:19 PM
Morgan Stanley's Adam Jonas discouraged on Tesla's post-election outlook
  • "We cannot see this in a positive light for Tesla (TSLA +0.9%)," says Morgan Stanley (NYSE:MS)'s Adam Jonas, reflecting on the election results. "An environment that moves away from incentivizing electric vehicles is clearly adverse to the story."
  • Trying to get positive, he does note the company was set to exhaust its $7.5K federal tax credit by 2018 anyway, and given the high vehicle price, Jonas doesn't think the incentive was that big of a deal.
  • As for the energy side of the equation, the removal of incentives for solar adds to headwinds, particularly ahead of the SolarCity (SCTY +0.7%) purchase.
  • Again trying to get positive, he notes there's no direct exposure to Mexico and limited exposure to China, thus capping protectionism risk.

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