Tigress Financial analyst Ivan Feinseth reiterated a Neutral rating on Tesla, citing the company's ongoing execution difficulties and delays in its Model 3 production ramp-up. Feinseth also noted that near-term business performance makes it difficult to assess Tesla's current value.

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Morgan Stanley says Elon Musk's visit to China "means far more than seeking approval for self driving tech on Chinese roads," adding that whether Tesla's CEO is "sleeping on a floor or on a plane... the message is clear: he's back." Investor concerns around whether Musk was "all in" on Tesla have been weighing heavily on the stock since his compensation package was rejected by a Delaware judge, so "even the smallest gesture of commitment," such as an unannounced trip to Beijing, has "elevated meaning here" in terms of combating concerns over Musk's commitment to Tesla relative to his broader ecosystem of companies, contends the analyst, who has an Overweight rating and $310 price target on Tesla shares.

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Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Philips... To see the rest of the story go to thefly.com. See Story Here

Shares of Tesla (TSLA) are rallying following reports that the company received in-principle approval from Chinese government officials to deploy its Full Self-Driving system. Tesla was granted the approval in China under certain conditions, but managed to clear two of the most important hurdles: reaching a mapping and navigation deal with Baidu (BIDU) and meeting requirements for how it handles data-security and privacy issues, a person with knowledge of the matter told Bloomberg. Shares of Tesla are up 10%, or $17.54, to $185.83 in premarket trading.