Lemonade surges after Morgan Stanley turns bullish on Tesla partnership

LEMONADE

17/03/2026 15:23

** Shares of insurer Lemonade LMND.N rise 14.52% to $66.13 after Morgan Stanley upgrades to "overweight" from "equal weight"

** Brokerage cites LMND's Tesla TSLA.O partnership represents an important first step and gives Lemonade first-mover advantage in data analysis and on-the-ground experience

** LMND is offering a 50% rate cut for drivers of TSLA electric vehicles when the automaker's Full Self-Driving (FSD) driver assistance software is steering because it had data showing it reduced accidents

** "As the auto market continues to evolve toward autonomous, we expect Lemonade to expand its autonomous exposure geographically, putting it on the path to 10x its business" -MS

** MS also raised PT to $85 from $80 which is a 47.2% upside to the stock's last close

** Five of 12 analysts rate stock "strong buy" or "buy", four "hold" and three "sell" or "strong sell"; their median PT is $65 - data compiled by LSEG

** Including session's move, LMND down 6.2% YTD

 (Reporting by Pragyan Kalita in Bengaluru)

 ((Pragyan.Kalita@thomsonreuters.com;))