Morgan Stanley analyst Adam Jonas has backed struggling electric vehicle maker Tesla (TSLA) and indicated the stock could have as much as 50%

Tesla shares rose 2% on Monday after Morgan Stanley reinstated the electric-vehicle maker as its top U.S. auto pick, saying the company's artificial intelligence and robotics efforts could power growth even as the mainstay car business stumbles.

Key Takeaways Tesla was named the "Top Pick" for U.S. auto firms by Morgan Stanley, which pointed to the EV maker's moves into AI and robotics.Morgan Stanley has an "overweight" rating and $430 price target for Tesla.

Key Takeaways Intel shares were up Monday after a report said Nvidia and Broadcom are running tests of its chip manufacturing process.Successful tests could mean chip manufacturing contracts for Intel worth hundreds of millions,

Intel was gaining early Monday on the prospect its chip-manufacturing business could gain major customers in Nvidia and Broadcom. Chip designers Nvidia and Broadcom are both running tests on Intel’s 18A manufacturing process,