Tesla stock pops 6%, extends rally as 'Mojo back for Musk' after latest delivery data
What is Morgan Stanley's price target for Tesla stock?
Morgan Stanley's price target for Tesla stock is $350. The firm maintained Tesla with an Overweight rating but lowered the price target from $383, citing continued production headwinds.
What was Tesla's stock percentage increase on Wednesday?
Tesla's stock increased by more than 6% on Wednesday, extending its rally after the company reported quarterly vehicle delivery results that surpassed expectations. This comes after a 10% jump on Tuesday, and the stock has now gained over 70% since its recent low in late April.
What did analysts say about Tesla's year-over-year delivery drop?
Analysts acknowledged Tesla's year-over-year delivery drop but remained bullish on the company's prospects. They highlighted that the electric vehicle (EV) industry may be holding up better than expected, with improving sentiment in Tesla shares and broader EV sentiment. Some analysts also pointed out that Tesla's energy storage business posted its highest quarterly deployment yet, signaling growth in other areas of the company.