Gary Black Raises Tesla Price Target As Ex-Ford CEO Notes Irony of Auto-Driven Stock Rally Amid Elon Musk's AI And Robotics Focus
Portfolio Pulse from Anan Ashraf
Gary Black of Future Fund raised his price target for Tesla (TSLA) from $200 to $270, citing increased EPS estimates and vehicle deliveries for 2024. Despite being below Wall Street estimates, Black is optimistic about Tesla's long-term prospects, projecting an EPS of $15 by 2030. The stock has rallied recently due to strong Q2 delivery numbers and better-than-expected performance in the energy storage segment.
July 06, 2024 | 5:37 am
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Gary Black of Future Fund raised his price target for Tesla from $200 to $270, citing increased EPS estimates and vehicle deliveries for 2024. Despite being below Wall Street estimates, Black is optimistic about Tesla's long-term prospects, projecting an EPS of $15 by 2030. The stock has rallied recently due to strong Q2 delivery numbers and better-than-expected performance in the energy storage segment.
The increase in price target and optimistic long-term EPS projections by a well-known analyst like Gary Black are likely to boost investor confidence in Tesla. The recent stock rally driven by strong Q2 delivery numbers and better-than-expected performance in the energy storage segment further supports a positive short-term impact on Tesla's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100