News Formal

Canaccord raises its price target on Tesla, says post-earnings rally will continue

  • 📰 CNBC
  • ⏱ Reading Time:
  • 8 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

Tesla Inc News

Stock Markets,Investment Strategy,Business News

A few catalysts have set Tesla up for more outperformance in the coming months, according to Canaccord Genuity.

Analyst George Gianarikas, who has a buy rating on the electric vehicle maker, hiked his price target by $20 to $298. That implies more than 10% upside from Friday's close. Gianarikas finds that Tesla's earnings trends will get closer to other "Magnificent Seven" names in the current quarter and outpace them next year. "Tesla's stock underperformed since the beginning of 2022 as trends deteriorated," he continued.

mountain TSLA, year-to-date Shares were marginally higher in the premarket following the move. The stock has risen more than 8% in 2024.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The stock market is primed for more gains ahead, Canaccord saysThe recent strong run in stocks could be just the beginning, according to Canaccord Genuity.
Source: CNBC - 🏆 12. / 72 Read more »

Cryptocurrencies Continue to Outperform the Stock Market: CanaccordWill Canny is a finance reporter at CoinDesk.n
Source: CoinDesk - 🏆 291. / 63 Read more »