Tesla Inc. TSLA Shares,
It shot up 6.2% in pre-market trading on Monday, setting it open for another record, as even the most bearish analyst on Wall Street turned slightly less bearish, after delivery data. Better than expected from the electric vehicle maker released last week. The stock shot up 25.9% amid a streak of 4 consecutive days through Thursday, which included three consecutive closing records. JP Morgan analyst Ryan Brinkman raised his stock price target to $ 295, which is 76% below Thursday’s closing price of $ 1,208.66, at $ 275, as a result of the delivery data, but his Target remains the lowest of 32 analysts surveyed by FactSet. Brinkman reiterated his underweight rating, citing a “high” valuation, and cautioned that any substantially better result could include unique elements, including credit sales and the release of deferred revenue associated with autonomous driving characteristics. Meanwhile, Deutsche Bank analyst Emmanuel Rosner raised his rating to $ 1,000 from $ 900, while keeping his rating on hold, citing data for “robust” deliveries. The average rating of analysts surveyed by FactSet is now $ 774.98, or 36% below Thursday’s closing price. The stock has now almost tripled to date (up to 189%), while the S&P 500 SPX,
It has fallen 3.1%.
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