This Is Why Some Analysts Are Still Incredibly Bullish on Tesla
- Prospects for fat margins, more manufacturing spur hopes
- Shares jump after Musk tweets about all-wheel-drive Model 3
'Big Competition' Coming for Tesla Says Vertical Group's Johnson
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The bear case for electric-car maker Tesla Inc. has looked smart lately with shares down almost 10 percent from May 9 to Friday. But a report on Monday from Berenberg spells out a more bullish take.
The note follows tweets over the weekend from Chief Executive Officer Elon Musk about taking orders for the all-wheel-drive version of the Model 3 and letting customers use an app to request service. The market seems to be listening: Tesla jumped 4.5 percent to $289.21 at 11:14 a.m. in New York after the shares fell in six of the previous seven trading sessions. The gain pares the stock’s year-to-date decline to about 7 percent.