Tesla: stock rises as New Street sees catalysts

(CercleFinance.com) - Tesla posted a second consecutive session of strong gains on Monday morning on the New York Stock Exchange, buoyed by a recommendation upgrade from New Street Research.


In a note, the independent research firm says it sees "many positive catalysts" for the stock as it enters fiscal 2025, and sees a favorable risk/reward profile.

The short-term outlook for Tesla is still uncertain, with weak demand and questions over future model launches, the broker says.

Nevertheless, progress in autonomous driving (FSD) is accelerating, supporting our view that Tesla could offer partially unattended autonomous driving and testing of its robotaxi as early as this year, it adds.

The latter is therefore raising its recommendation to buy, with a target price of $460.

A little less than half an hour after the opening, Tesla shares were up nearly 2.5%, compared with a rise of around 1% for the S&P, having already gained more than 8% on Friday evening.


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