What to Watch Before the Close Tuesday: Tesla, Virgin Galactic, and Coronavirus

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We’re giving you an update on the coronavirus, a new price target for Tesla  (TSLA) - Get Report and Virgin Galactic  (SPCE) - Get Report.

The Coronavirus

The coronavirus has claimed yet another victim, this time the director of a hospital in Wuhan.

So far, there are around 1,870 deaths. And over 72,000 cases.

In the past twenty-four hours, China has reported 1,891 new cases.

Looking outside of China, there are 804 cases across 25 countries. Three people outside of China have died from the virus.

The Bull Case for Tesla

Tesla got a new price target from Morgan Stanley.

Analysts boosted the target to $1,200, from a previous target of $650.

The new price target is around 50% higher than Friday’s closing price, which was just above $800.

The new price target would give Tesla a market cap of $220 billion.

The bull case has Tesla winning 30% of the global electric vehicle market, which could include 4 million deliveries by 2030.

Tesla is up around 176% in the past year.

And, Finally, Virgin Galactic

The company also got a note from Morgan Stanley Tuesday, but this time analysts warned that the stock has risen too high too quickly.

Adam Jonas, an analyst with Morgan Stanley, said that he does remain "very constructive.”

Jonas reiterated his overweight rating and $22 price target, with a $60 bull case.

Over the past three months, the stock is up over 220%. 

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