Editors note: Story has been amended, removing the indication the the MS report came out this weekend. It was published on 6/17
NEW YORK (TheStreet) -- Tesla Motors (TSLA) shares are up 3.1% to $236.78 on Monday following a report by analysts at Morgan Stanley (MS) that called the company the most important automaker in the world.
Research analyst Adam Jonas notes the positive impact the company's proposed $5 billion lithium-ion battery facility, dubbed the Gigafactory, has had on the American economy with no less than five different states all vying to house the project, potentially jumpstarting American high-tech manufacturing growth.
"Not even two years after the delivery of the first Model S, Tesla Motors has transformed from fledgling start-up to arguably the most important car company in the world. We are not joking. Tesla is also emerging as an emblematic force in America's effort to foster high tech manufacturing job growth," said Jonas.
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TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation: