TSLA - MORGAN STANLEY SEES FSD DRIVING TESLA GROWTH Morgan Stanley analyst Andrew Percoco reaffirmed an Equalweight rating and $425 price target on Tesla, highlighting Lemonade’s new autonomous car insurance that links rates to miles driven under Tesla’s Full Self-Driving (FSD) system. Lower premiums for FSD usage signal growing insurer confidence in the technology, incentivize adoption, and could create a feedback loop where more FSD miles improve safety, performance, and further reduce costs.