REUTERS -Tesla Inc was set to add about US$50 billion to its market value, as its shares surged on Monday after the world's most valuable automaker posted record deliveries, overcoming the impact of a shortage of automobile chips that has slammed the entire sector.
Tesla's ability to produce roughly the same amount of vehicles in the first quarter as in the fourth quarter"stands out relative to the trend in global light vehicle production", J.P.Morgan analysts wrote in a note. At least three brokerages ratcheted up their price targets on Tesla's stock. Brokerage Wedbush made the most aggressive move by hiking its target by US$50 to US$1,000, much higher than the median price target of US$712.50, as per Refinitiv data.Tesla delivered 184,800 vehicles globally during the first quarter of 2021, above estimates of 177,822 vehicles, according to Refinitiv data.