Tesla price target raised to $200 from $175 at Wedbush

Wedbush analyst Daniel Ives raised the firm’s price target on Tesla to $200 from $175 on improved visibility/demand trajectory, while keeping an Outperform rating on the shares following quarterly results. The firm notes that in the near-term Tesla is sacrificing margins for higher volumes, but views this as the right strategic poker move to put an iron fence around its customer base and fend off growing EV competition coming from Detroit, Europe, and China.