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Investing.com — Morgan Stanley analyst Adam Jonas, who extensively covers Tesla, Inc. (NASDAQ:TSLA), said Friday that the electric vehicle company entering the aviation space is a matter of “when not an if.”
The analyst said in a note to clients that, in their view, the chance that Tesla does not ultimately offer products and services to the eVTOL (electric vertical takeoff and landing aircraft)/UAM market “is remote.”
“The potential skills transferability and network adjacencies are too strong to ignore,” added Jonas.
The analyst made the comments after Tesla CEO Elon Musk tweeted, “Working on Master Plan Part 3.”
“We see Part 3 as mass industrialization, a network flywheel and ‘connecting the dots’ across adjacent TAMs,” said the analyst.
Jonas has an Overweight rating and $1,300.00 price target on Tesla shares, which are trading 2.3% higher Friday.
