Morgan Stanley maintains Tesla (TSLA.US) "Neutral" rating ahead of Q3 performance: Robotaxi large-scale rollout remains the core catalyst, opportunities and risks coexist under high capital expenditure

```htmlAccording to Golden Ten Data, Tesla (TSLA.US) will announce its earnings after the market closes next Wednesday (October 21), and Morgan Stanley has released its outlook report for the company's third quarter of 2026. Morgan Stanley has shifted to a more constructive stance toward Tesla, maintaining an equal-weight investment rating with a base target price of $400. The current share price is $362.44. The report points out that the scaled deployment of Robotaxi remains the core catalyst for Tesla's stock price. The commercial rollout of the Cybercab autonomous taxi has made visible progress, but the substantial capital expenditures have led to cash flow consumption. Valuation pressure persists, and the upside of the stock price depends on the commercial validation of its physical AI business.```