Tesla Analysts Want to See More Before Joining Stock Party
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Tesla Inc. investors are cheering the company’s best-ever quarter with the shares of the company climbing in early trading, but Wall Street isn’t yet ready to drop its cautious stance.
While the third-quarter results were definitely “impressive,” and spurred at least one upgrade to outperform at Wolfe Research, most analysts questioned whether the profit and robust cash flow were sustainable and can be repeated next quarter. Demand for the company’s electric cars in a post tax-credit environment also remains a lingering concern.