Tesla: Credit Suisse raises target, but still a seller
(CercleFinance.com) - Credit Suisse said on Tuesday that it has raised its target price for the Tesla share to 340 dollars, while maintaining an "underperform" rating on the shares.
In a note to clients, the broker gives credit to the progress made by the electric carmaker, but says it is "now time to deliver" for the company.
"Tesla stock is elevated given 2020 catalysts," Credit Suisse said in the report, pointing out that expectations have risen, particularly the recent ramp-up of the Chinese Gigafactory.
On Tuesday, Tesla shares were up 1.4% at 457.8 dollars. They have risen by almost 35% over the past month.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note to clients, the broker gives credit to the progress made by the electric carmaker, but says it is "now time to deliver" for the company.
"Tesla stock is elevated given 2020 catalysts," Credit Suisse said in the report, pointing out that expectations have risen, particularly the recent ramp-up of the Chinese Gigafactory.
On Tuesday, Tesla shares were up 1.4% at 457.8 dollars. They have risen by almost 35% over the past month.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.