"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."
""...on the EV side, we expect more new models soon - as promised by management. These should help global sales momentum - and potentially help alleviate any post-3Q cliff in the US after EV tax credits go away. And these new vehicles should be interesting.""
Canaccord increased Tesla's price target to $490 from $333 and maintained a Buy rating. Tesla shares trade near $443, up more than 34 percent in the past month and well above $333 since early September. The firm expects higher deliveries this quarter and anticipates that the company will offset the $7,500 EV tax credit removal with new, affordable models planned for the second half of the year. The new models are expected to support global sales momentum and help avoid a US sales cliff after the tax-credit loss. The Energy division also represents incremental growth potential amid rising data-center power demand.
Read at TESLARATI
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