Morgan Stanley has maintained its ratings and target prices for several Indian companies, reflecting cautious optimism amid mixed sectoral outlooks. The firm kept an equal-weight rating on Coal India with a target price of ₹450 per share, citing continued weak offtake and subdued global coal prices that may affect Q1 and fiscal year 2026 earnings. Tata Motors retained an equal-weight rating with a target price of ₹715, while Mahindra & Mahindra and Tata Power were both rated overweight with target prices of ₹3,368 and ₹449 respectively. Other Indian companies with maintained ratings include Godrej Consumer (overweight, ₹1,431), ICICI Lombard (equal-weight, ₹1,855), JSW Steel (equal-weight, ₹1,000), Indigo (overweight, ₹6,502), Trent Limited (overweight, ₹6,359), Grasim Industries (equal-weight, ₹2,975), and Adani Ports (overweight, ₹1,481). JPMorgan also maintained an overweight rating on Infosys with a target price of ₹1,800. In the U.S. market, Morgan Stanley reaffirmed its buy rating on Tesla with a $410 price target, highlighting the company's potential expansion into drone manufacturing and electric aircraft amid U.S.-China competition. Analyst Adam Jonas views the drones and urban air mobility market as potentially reaching $1 trillion by 2040 and $9 trillion by 2050, suggesting that Tesla’s entry into this sector could add $1,000 per share in value, effectively positioning Tesla as a defense stock.