Tesla logo is placed on the vehicle at the 41st Thailand International Motor Expo, in Bangkok, Thailand, November 29, 2024. REUTERS/Athit Perawongmetha/File Photo
(Reuters) - Tesla shares rose 2% on Monday after Morgan Stanley reinstated the electric-vehicle maker as its top U.S. auto pick, saying the company's artificial intelligence and robotics efforts could power growth even as the mainstay car business stumbles.
The note dated Sunday was the latest from analyst Adam Jonas, a longtime Tesla bull who has praised the company's push beyond autos as sales face pressure from high U.S. borrowing costs and fierce Chinese competition including from BYD.
