Tesla Analysts Bullish on Stock as Company Hits Milestones
Tesla (NASDAQ: TSLA) has experienced a series of positive developments in recent weeks, prompting analysts to revise their price targets and outlook on the stock. The company’s strong performance has led many to believe that Tesla is poised for further growth in the near future.
Record Deliveries and Full Self-Driving Update
One of the key drivers behind Tesla’s recent bullish momentum is its record-breaking deliveries for the third quarter, setting a positive tone for the company. In addition, Tesla has introduced its most advanced Full Self-Driving (Supervised) update in a year, which has been well-received for its enhanced capabilities.
Analyst Upgrades
TD Cowen raised its price target for Tesla shares from $374 to $509, citing the positive deliveries report and the company’s commitment to retaining CEO Elon Musk. Musk’s recent achievement of his pay package milestones could potentially make him the world’s first trillionaire, further boosting investor confidence.
Stifel also increased its price target on Tesla from $440 to $483, highlighting the advancements in Tesla’s Full Self-Driving suite. The firm sees Tesla as a major player in the self-driving and AI industries, with potential for further growth.
UBS, on the other hand, maintains a ‘Sell’ rating on Tesla shares but raised its price target from $215 to $247. The firm acknowledges Tesla’s positive performance but remains cautious about the company’s future outlook, particularly in the fourth quarter.
Overall Outlook
Despite differing opinions among analysts, Tesla’s stock has seen a 24 percent increase in the last month. With continued advancements in technology and strong delivery numbers, Tesla remains a key player in the electric vehicle market.