大摩下调特斯拉目标价:“烧钱”模式将影响短期利润,自由现金流恐“由正转负”

华尔街见闻
Jan 30

特斯拉正在从电动车制造商向物理AI领军企业转型,但这一战略转向需要大规模资本支出。2026年特斯拉资本开支预计超过200亿美元,远超市场此前110亿美元的预期。巨大的资本开支使得现金流恶化,影响特斯拉当下估值。据追风交易台,摩根士丹利1月29日发布报告,将特斯拉目标价从425美元下调至415美元,维持"持股观望"评级。这一调整背后是对特斯拉未来巨大资本开支的担忧。摩根士丹利预计特斯拉2026年将...

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