Morgan Stanley Adam Jonas noted that Tesla (TSLA) has historically brought in strategic partners at important points in its history to participate in its capital formation – pointing to its prior deals with Daimler (DDAIF), Panasonic (PCRFY) and Toyota (TM) – and he wonders if Tesla, which is targeting higher spending for its launch of the Model 3, may now see another opportunity to explore getting help from new or existing partners to meet its capital needs.
However, Jonas noted that he is “not aware of any possible initiatives in this respect.” The analyst, who ascribes a valuation of $233 per share to the core automotive business, “zero valuation” for Energy generation and storage and sees upside from the value he ascribes to its Tesla Mobility segment, reiterates an Overweight rating and $305 price target on Tesla shares.
