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Twitter Inc on Friday adopted a limited-duration shareholder rights plan to protect itself from billionaire entrepreneur Elon Musk's $43 billion cash takeover offer.

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Several popular companies have announced stock splits this year, including search giant Alphabet, retail titan Amazon, and electric car pioneer Tesla. Earlier this week Shopify (NYSE: SHOP) joined the club with a proposed 10-for-1 split set to take effect on Jun. 28, pending shar

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Tesla is preparing to resume production at its Shanghai plant on Monday following a three-week stoppage, having received the go-ahead from local authorities, two people familiar with the matter said.

U.S. stock investors worried geopolitical uncertainty and the Federal Reserve's fight against inflation could dent economic growth are heading for defensive sectors they believe can better weather turbulent times and tend to offer strong dividends.

Automakers in China may have to suspend production in May if suppliers in Shanghai and surrounding areas are not able to resume work, He Xiaopeng, the chief executive officer of Chinese electric-car maker Xpeng, said on Thursday.

Elon Musk's offer to buy Twitter sparked concerns among Tesla investors and analysts that the electric carmaker could suffer as the chief executive becomes distracted by his takeover play and the possible sales of Tesla shares to fund the deal.

There were signs at various times during this holiday-shortened week (both trading floors and Zacks.com will be closed for Good Friday) that indexes were going to burst higher, despite record and near-record inflation numbers in March CPI and PPI data, among other things.

Wall Street closed lower on Thursday at the end of a holiday-shortened week as bond yields resumed their uphill climb and investors contended with mixed earnings and economic data.

Stocks fell across the board at the holiday-shortened trading week's conclusion as mixed bank earnings and cloudy economic data dampened bulls' enthusiasm.

The S&P and the Nasdaq closed lower on Thursday at the end of a holiday-shortened week as bond yields resumed their uphill climb and investors contended with mixed earnings and economic data.

Technology stocks added to their Thursday declines this afternoon, with the SPDR Technology Select Sector ETF (XLK) falling 2.2% and the Philadelphia Semiconductor Index sliding 2.8%.

Is Tesla (TSLA) overvalued? That is a question that has been asked many times. If you look at the EV leader as a “pure car company,” then yes, says Morgan Stanley’s Adam Jonas, Tesla is overvalued.

“However,” the 5-star analyst went on to say, “the company may be substantially undervalued as a renewable energy on-shore infrastructure company.” In fact, Jonas views Tesla as the “ultimate battery capex play.”

What recent events have shown us is that the world needs to “transition off of the fossil fuel economy (aka the molecular energy economy)” and into the renewable economy. More crudely, the combined effect of war + inflation will result in “energy innovation.”

And here investors must ponder the new energy supply chain and supporting infrastructure. In the year ahead, Jonas expects Tesla, and fellow auto industry luminaries to show investors how important they are for this transformation to take place. With Tesla leading the way, Jonas expects “many other auto companies to play a critical role in re-architecting the renewable energy/transport industry.”

What this will involve is no less than the MOACC – the Mother of All Capex Cycles. Over the next 20 years, to move off of fossil fuels, Jonas reckons that as much as $20 to $40 trillion will need to be spent in “accumulated capex and R&D.” So far, only 1% of this amount has gone toward this endeavor while to-date, not even 3% has even been allocated.

“While many investors are still focused on whether GM can outperform Ford by 5 or 10% this year (or vice versa),” Jonas summed up, “the global renewable energy/battery capex cycle is where the real alpha is, in our opinion.”

All in all, there’s no change to Jonas’ rating on TSLA, which remains an Overweight (i.e., Buy). The analyst gives the stock a $1,300 price target, which suggests ~32% growth in the year ahead. (To watch Jonas’s track record, click here)

What does the rest of the Street have in store for Tesla? It’s a mixed bag; based on 15 Buy ratings, 5 Holds and 6 Sells, the stock claims a Moderate Buy consensus rating. The average price target currently stands at $1,005 and change, implying shares will stay rangebound for the foreseeable future. (See Tesla stock forecast on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

Wall Street was mixed on Thursday at the end of a holiday-shortened week as benchmark bond yields resumed their uphill climb and investors juggled earnings and economic data.

Technology stocks were declining on Thursday, with the SPDR Technology Select Sector ETF (XLK) falling 1.7% and the Philadelphia Semiconductor Index sliding 2.1% this afternoon.

Toyota Motor TM recently announced its decision to recall around 460,000 vehicles in the United States to fix a software malfunction that may disable the electronic stability control system. It reported that the software glitch might not let the vehicle stability control