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Tesla: Wedbush raises target price

( - Following Tesla's quarterly earnings call, Wedbush reinstates its "outperform" rating on the stock increasing its target price from 175 dollars to 200 dollars, "on improved visibility/demand trajectory".

The broker points out that the results, which are considered solid and accompanied by optimistic demand forecasts, show that the electric car manufacturer is sacrificing margins in the short term in favour of increased volumes.

"We view 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," he said.

Tesla shares are currently speeding off into the distance - up over 9% in early Wall Street trading today.

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