Stephen Gengaro, an analyst from Stifel Nicolaus, reiterated the Buy rating on Tesla. The associated price target remains the same with $483.00.
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Stephen Gengaro has given his Buy rating due to a combination of factors that highlight Tesla’s strong performance and future potential. The company’s third-quarter results showed impressive revenue, gross profit, and EBITDA figures that surpassed expectations, even though earnings per share fell short. This performance was bolstered by higher-than-anticipated vehicle deliveries, which exceeded both consensus and internal forecasts, demonstrating robust demand for Tesla’s products.
Additionally, Tesla’s advancements in AI and the expansion of its Robotaxi and Full Self-Driving (FSD) capabilities are seen as critical value drivers for the company’s future growth. The automotive margins improved due to lower material costs and better fixed-cost absorption, further supporting the positive outlook. Despite challenges such as elevated tariff impacts, Tesla’s strategic moves, including the introduction of lower-priced vehicles, position it well in the market. These factors collectively underpin Gengaro’s Buy rating and the target price of $483.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $500.00 price target.