Adam Jonas is one of the most bullish Wall Street analysts covering TSLA, localed from the venerable investment bank and chief underwriter for TSLA, Morgan Stanley.
Jonas thinks the SCTY deal is horseshit of the very first magnitude and has subsequently slashed his price target for the shares.
Jonas, whose firm has underwritten securities offerings for Tesla, lowered his recommendation on the stock Thursday to equal-weight from overweight and reduced his 12-month target for the stock price to $245 from $333.
“While there may be any number of lucid arguments supporting the strategic rationale of a combination, we believe many of the benefits could have been achieved through arm’s length/strategic partnership and without the risks inherent in exposing Tesla shareholders to the financial and capital markets risks faced by SCTY,” Jonas wrote in a report to clients.
Rumor has it, Jonas has been throwing vases against the walls at Morgan all morning long after publishing this note.
His love affair with Musk is, essentially, over (no homo).
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Clearly Mr. Musk is simply a greedy billionaire who loves himself and his money more than anyone or anything else.
I find it funny that people adore him so much. The man is simply an egomaniac, and all of the attention he gets simply makes him feel that much better.
TSLA investors are getting what they deserve, and will continue to get it as the truth about Musk continues to come out.
+1
Musk is a brilliant creative guy, capable of a lot of great things. But our society worships billionaires so much, that Musk is in danger of being surrounded by Yes men, so that his judgment is impaired and he is out of touch with reality.
Jones may have done Musk a great service, if Musk ever gets this message & takes it seriously. Greater love than this no man hath, than that he call things as he sees them, to his friend. Maybe Jones does still love Musk and wants to see him go forward more constructively.