"Gianarikas raised Canaccord's price target on Tesla shares up to $490 from $333, as the stock has been well above the latter number for some time. Shares are currently trading at around $443, and have not traded at $333 since the beginning of September. Tesla shares have increased by over 34 percent in the past month. A new note written to investors from Gianarikas breaks down each division of the company and how it will contribute to Tesla's overall growth through the next several quarters."
"Gianarikas notes that Canaccord expects higher deliveries this quarter, in part due to the removal of the tax credit, which will occur today. The firm expects Tesla to offset the loss of the tax credit with the introduction of new, affordable models, something the company has stated it is working on and plans to introduce during the second half of this year. Now, with just a quarter left in 2025, it seems Tesla plans to launch those models within the next three months."
Canaccord Genuity raised its Tesla price target to $490 from $333 while keeping a Buy rating as shares trade well above prior targets and have risen over 34% in the past month. The analyst projects higher deliveries this quarter and expects Tesla to offset the $7,500 EV tax-credit removal by introducing new, affordable models planned for launch within the next three months. The analyst forecast breaks down contributions from each division and highlights Tesla Energy as a potential growth area given increasing demand from data centers and grid resource opportunities over the coming years.
Read at TESLARATI
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