On February 10, Morgan Stanley reiterated an Equal Weight rating on Tesla and set a $415 price target, highlighting confidence in the company’s decision to allocate capital toward solar manufacturing expansion. The firm cited this strategic move as a key growth driver for Tesla’s energy division beyond its traditional electric vehicle business. Morgan Stanley emphasized Tesla’s tentative plan to add 100 GW of solar manufacturing capacity, estimating that full-scale output could create $20–50 billion of incremental equity value (equivalent to $6–14 per share) and generate a 35% uplift to the current $140 billion valuation of Tesla Energy.