MORGAN STANLEY: Utopia Is Coming In 2026

Earlier today, Morgan Stanley's Adam Jonas cranked up his price target on Tesla to $320 from $153.

"Tesla's quest to disrupt a trillion $ car industry offers an adjacent opportunity to disrupt a trillion $ electric utility industry," he wrote in a new note to clients. "If it can be a leader in commercializing battery packs, investors may never look at Tesla the same way again."

If Tesla figures out how to cheaply store green energy, that's a game-changer.

But if Tesla masters the self-driving car, then here comes utopia.

"Beyond the practical benefits, we estimate autonomous cars can contribute $1.3 trillion in annual savings to the US economy alone, with global savings over $5.6 trillion," wrote Jonas. "There will undoubtedly be bumps in the road as well, including the issues of liability, infrastructure, and consumer acceptance. However, none of these issues appears insurmountable."

Jonas' chart suggests we could reach this "utopia" by 2026.

Hopefully, he's is right. Unfortunately, these types of comments from Wall Street are often signs that we are closer to the top of the market than the bottom.