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Tesla Bounces After Credit Suisse Upgrade -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Tesla Inc (NASDAQ:) shares rose 7% after Credit Suisse upgraded the stock to outperform from neutral, keeping the price target unchanged at $1,025.00 a share.

Dan Levy an Analyst stated in a note for clients that there is now an appealing entry point after the recent sale. 

Levy explained that they expect “both further volume growth as well as sustained margin strength”. In addition, Credit Suisse also expects “positive EPS revisions in the coming years – we are on average ~25% above consensus on 2022-24 EPS.”

“Tesla remains the leader of the multi-decade secular transition to EVs. With less question around demand and much more question around supply of EVs, Tesla should be a key beneficiary – it has a product lead vs. others, and has taken the most holistic approach on EV supply,” the analyst explained.

“We believe legacy OEMs are taking clear steps to transitioning to an EV world, yet we expect Tesla to maintain a lead for the foreseeable future.”

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