Comment on Top Tesla bull says the EV stock could see a setback after its breathless 115% rally

Tesla shares could slip as the EV maker presses ahead with its price war, according to well-known bull Adam Jonas.Reuters/Stephen Lam Well-known Tesla bull Adam Jonas slashed his rating for the stock Thursday. Earnings will likely fall as the EV maker presses ahead with its price war, he wrote in a research note. Shares have jumped 115% year-to-date – and the Morgan Stanley analyst isn’t alone in advising investors to take some profits from that rally. Top Tesla bull Adam Jonas has warned investors that the EV stock is likely to give up some of its gains after starting 2023 with a breathtaking rally.The Morgan Stanley analyst slashed his rating for Elon Musk's company from "overweight" to "equal weight" Thursday, and shared a $250 price target that would see the stock fall around 4% from its current price level.Jonas' caution comes after Tesla started 2023 with a breakneck surge, jumping 115% year-to-date – while the benchmark S&P 500 is up 14% over the same period."I have to be up-front with you all," he wrote in a research note seen by Insider.