Bengaluru/New York — Brokerage Morgan Stanley has suspended equity coverage on Tesla, hinting that the US bank may be doing business directly with the company as it explores options to go private, pushing the electric vehicle (EV) maker’s shares up as much as 5% on Tuesday. Morgan Stanley’s move comes a week after Goldman Sachs stopped its coverage of Tesla last week shortly before confirming it was acting as a financial adviser on a matter related to the company. Morgan Stanley’s website showed Tesla had been moved to "Not Rated" from "Equal-weight" on Tuesday without providing further details on the reason for dropping coverage. Shares of California-based Tesla rose to a high of $324.79 on Tuesday, bouncing off a three-month low on Monday when JP Morgan slashed its price target on the company by $113 and said it believed CEO Elon Musk had not secured funding for taking Tesla private. Musk had tweeted early last week that he was working with buyout firm Silver Lake and investment b...

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