Tesla's moved up earnings date likely a positive, says Morgan Stanley
Tesla's "surprise" pull-forward of its Q3 earnings report to tomorrow evening is "more likely a positive sign than an adverse sign," Morgan Stanley analyst Adam Jonas tells investors in a research note. The move coincides with an inflection of Model 3 deliveries and could be a catalyst for a "positive" Q4 outlook, the analyst adds. He has an Equal-Weight rating on Tesla with a $291 price target. Jones asks, "Why would Tesla pull forward the introduction of adverse news into the market now?" Further, he believes the timing of the earnings release could align with potential financing plans. Tesla will use the recent Model 3 momentum to potentially tap the equity market, Jones writes. He continues to forecast a $2.5B equity capital raise in Q4.