Tesla shares are trading higher after the company reported May China sales up 2.4% from April and up 141.6% from May 2022. Citigroup maintained a Neutral rating on the stock but raised its price target from $175 to $215.
Portfolio Pulse from Benzinga Newsdesk
Tesla reported a 2.4% increase in China sales for May compared to April and a 141.6% increase compared to May 2022. Citigroup maintained a Neutral rating on the stock but raised its price target from $175 to $215.
June 05, 2023 | 1:49 pm
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POSITIVE IMPACT
Tesla's May China sales increased, and Citigroup raised its price target for the stock.
Tesla's strong sales growth in China indicates a positive outlook for the company's revenue. Additionally, Citigroup's raised price target suggests increased confidence in the stock's potential, which may lead to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100