Tesla price target raised to $153 from $134 at Guggenheim

Guggenheim raised the firm’s price target on Tesla to $153 from $134 and keeps a Sell rating on the shares. The firm rolls its valuation basis forward one year in conjunction with “modestly improved demand trends” as it is updating its delivery and margin forecasts to incorporate quarter-to-date data, a brief analysis of the used vehicle market for Tesla and detailed regional assumptions. The “path of least resistance into the 10/10 robotaxi event is likely higher, with deliveries looking like a non-event,” but following the robotaxi event, investors are likely to refocus on near- and medium-term fundamentals, the analyst contends.