Brokerage Morgan Stanley has suspended equity coverage on Tesla Inc., hinting that the U.S. bank may be doing business directly with the company as it explores options to go private, pushing the electric carmaker’s shares up as much as 5 percent on Aug. 21.
Morgan Stanley’s move comes a week after Goldman Sachs Group Inc. stopped its coverage of Tesla last week shortly before confirming it was acting as a financial adviser on a matter related to the automaker.
