Tesla(US:TSLA) 智通财经网·2025-12-09 01:37Core Viewpoint - Morgan Stanley downgraded Tesla (TSLA.US) to "Hold" due to high valuation, marking the first downgrade since June 2023. The current price-to-earnings ratio is approximately 210 times the expected earnings for the next 12 months, making Tesla the second highest in market capitalization in the S&P 500, following Warner Bros. Discovery (WBD.US) at 220 times [1][4]. Group 1: Analyst Insights - Analyst Andrew Percoco stated that while Tesla is perceived as more than just an automaker, the stock price reflects this expectation, and the company has reached "full valuation levels" [1]. - Percoco's new target price for Tesla is $425, and he replaced Adam Jonas, who previously rated the stock as "Overweight" [4]. - The average target price among analysts is $388, with 28 "Buy" ratings, 19 "Hold" ratings, and 16 "Sell" ratings [4]. Group 2: Market Performance and Projections - Tesla's stock fell by 3% on Monday, trading around $441, despite a year-to-date increase of approximately 10% [4]. - The company is expected to lead in humanoid robotics, with the Optimus project valued at $60 per share, but a 12% decline in electric vehicle sales in North America is anticipated next year due to industry downturns [4]. - Tesla's stock performance has been volatile, with a 63% increase in 2024 and a 102% increase in 2023, while the S&P 500 has risen over 16% this year [4]. Group 3: Short Seller Commentary - Notable short seller Michael Burry criticized Tesla's high valuation, calling it "absurdly overvalued" and highlighting the company's practice of diluting shares by 3.6% annually without stock buybacks [5].