Morgan Stanley $ 10 worst case at Tesla stock & # 39; really insane & # 39;
CNBC's Jim Cramer on Tuesday said Morgan Stanley cuts his worst-case forecast on Tesla from $ 97 per share to just $ 10 seems to be a gimmick.
Set a $ 10 price target on a $ 200 stock "is really crazy," said the "Mad Money" host. "What about $ 8? What about $ 12? Ten basically say, "I'll be talking about. Let's talk about me." "
Morgan Stanley, in a survey note on Tuesday co-authored by Adam Jonas, said the bear call was based on demand considerations and exposure in China.  The analysts left their Tesla base of $ 230 per share and their best case of $ 391[ads1].
"Our revised bear case means that Tesla misses our current Chinese volume forecast of about half," Jonas and his colleagues wrote, quoting " the highly volatile trading situation in the region. "
" If he had made $ 47 we would have talked about He's no, but 10. Ten is right on your face, Cramer said on "Squawk on the Street." "I question this survey."
A spokesman for Morgan Stanley refused to comment on Cramer's criticism. 19659002] Shares of Tesla hit 2½-year low Tuesday, below $ 200 at the worst level of the session.
However, it was far from the lowest time of less than $ 15 in July 2010, less than a month after it went public at $ 17. At the front, the stock hit a full-time nearly $ 390 per share in September 2017.  In a year with S & P 500 up 14%, Tesla has fallen almost 40% in 2019.
But it has been difficult to bet against Tesla's CEO Elon Musk. The stock is up nearly 1100% since its IPO.