Daiwa raised the firm’s price target on Tesla (TSLA) to $285 from $225 and keeps a Neutral rating on the shares. The firm increased estimates more for 2024 to reflect the Q3 beat and stronger finish anticipated by Tesla for both its automotive and energy storage operations. Cybertruck, China energy storage and the 4680 ramp are likely to improve the company’s margins into 2025, the analyst tells investors in a research note. Daiwa sees Tesla passing on most its auto cost savings to drive growth. It raised the price target target to reflect a higher robotaxi valuation “as plans get clearer.”
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TSLA:
- Should You Buy TSLA Stock After its 20% Surge?
- GOOGL, NVDA, and TSLA Lead Nasdaq (NASDAQ:NDAQ) to All-Time High
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Cathie Wood Trims Tesla Stake, Shifts Focus to This Lesser-Known Stock
- Waymo’s $5.6B Funding Round Could Spell Trouble for Tesla (NASDAQ:TSLA)