Tesla’s (TSLA) stock soared on Thursday after the company released a positive third-quarter report, showcasing strong profits, improved margins, and exciting growth prospects.
Analysts have plenty to analyze with Tesla’s cheap EV update and robotaxi rollout contributing to the overall positive outlook for the company.
Bank of America’s John Murphy raised his price target for Tesla following the impressive quarter results.
Murphy highlighted Tesla’s improved gross margin in Q3 2024 due to various factors like Cybertruck ramp-up and cost-cutting measures.
With auto gross margin strength and promising sales projections in Energy and Services, Murphy increased his price target for Tesla to $265 from $255 while maintaining a Buy rating.
Exciting times ahead for Tesla as it continues its upward trajectory in the market!
2024-10-24 12:23:31
Article from finance.yahoo.com
