Mon Sep 09 14:08:16 UTC 2024: ## Wall Street’s Electric Vehicle and Clean Energy Buzz: Tesla Remains Top Pick, XPeng Gets Upgrade, and Li Auto Faces Downgrade

**New York, NY** – The Fly, a leading source of breaking news and expert insights for institutional investors and professional traders in the electric vehicle (EV) and clean energy space, has released its weekly recap of the sector’s most noteworthy developments.

**Morgan Stanley Doubles Down on Tesla’s Long-Term Potential:** Despite Tesla (TSLA) stock’s recent struggles, Morgan Stanley maintains its “Overweight” rating and $310 price target, citing the company’s commitment to cost control, resource allocation to AI-focused initiatives, and its strong position in the rapidly evolving autonomous vehicle market.

**Elon Musk Denies xAI Revenue Sharing Deal with Tesla:** While rumors circulated about xAI, Elon Musk’s artificial intelligence startup, negotiating a deal to share future Tesla revenue in exchange for access to its technology, Musk has publicly refuted the claims, emphasizing Tesla’s independent AI advancements.

**FedEx Bolsters EV Fleet with Workhorse Step Vans:** Workhorse Group (WKHS) announced a significant order from FedEx (FDX) for 15 W56 step vans, contributing to FedEx’s commitment to achieving carbon-neutral global operations by 2040.

**Citi Optimistic on Nio’s Future, JPMorgan Upgrades XPeng:** Citi has initiated a 30-day positive catalyst watch on Nio (NIO), citing expected product mix improvements and better scaling in Q3. JPMorgan upgraded XPeng (XPEV) to “Overweight,” citing the positive impact of upcoming new models and strong Q4 delivery momentum.

**Li Auto Faces Downgrade Amidst Growing Competition:** Citi downgraded Li Auto (LI) to “Neutral” due to concerns about its L7/8/9 model cycle facing increased competition from Huawei, Denza, and other players.

**ChargePoint and SolarEdge Navigate EV Recession and Market Uncertainty:** TD Cowen downgraded ChargePoint (CHPT) to “Hold” due to the ongoing EV recession impacting results, while Jefferies initiated coverage of SolarEdge (SEDG) with a “Hold” rating, citing continued negative free cash flow and uncertainty.

**Array Technologies Receives Upgrade from Jefferies:** Jefferies upgraded Array Technologies (ARRY) to “Buy,” recognizing its strong market position, focus on quality backlog, and discounted valuation compared to clean energy peers.

**Stay tuned for upcoming IPOs and secondary offerings, as well as the latest earnings calls, analyst events, and roadshows covered exclusively on The Fly.**

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