Morgan Stanley analyst Adam Jonas believes Tesla's (TSLA) - Get Report Model 3 could be a "real surprise" to a lot of people and has the potential to be the safest car on the road. 

"We think the Model 3 will feature hardware and software that provide a level of active safety that could significantly lead all other cars on sale today and could, if the company achieves its goal, be an order of magnitude (i.e. 10x) safer than the average car on the road," Jonas wrote. 

Jonas has an "overweight" rating on Tesla's stock with $305 price target.