Tesla: Jefferies upgrades to 'buy', shares continue to climb
(CercleFinance.com) - Tesla shares are up over 6.
6% on Monday after Jefferies upgraded its rating on the stock, citing the company's promising future.
Analyst Philippe Houchois raised his rating to "buy" from "hold" on the Palo Alto-based electric car maker's stock, which had already risen 5.6% on Friday after the company reported better-than-expected first-quarter deliveries.
"In Europe and China, we see continued public policy commitment to supporting EV sales with European fiscal policies supporting accelerated replacement of the auto parc," Houchois said in a note to clients, while cutting his target price for the share from 800 dollars to 650 dollars.
The analyst said he sees Tesla increasing its volumes by more than 25%, with earnings supported by better productivity, and stable average selling prices.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
6% on Monday after Jefferies upgraded its rating on the stock, citing the company's promising future.
Analyst Philippe Houchois raised his rating to "buy" from "hold" on the Palo Alto-based electric car maker's stock, which had already risen 5.6% on Friday after the company reported better-than-expected first-quarter deliveries.
"In Europe and China, we see continued public policy commitment to supporting EV sales with European fiscal policies supporting accelerated replacement of the auto parc," Houchois said in a note to clients, while cutting his target price for the share from 800 dollars to 650 dollars.
The analyst said he sees Tesla increasing its volumes by more than 25%, with earnings supported by better productivity, and stable average selling prices.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.