Tesla’s ‘Home-Run Quarter’ Leaves Even the Bears Praising Elon Musk
- Carmaker posts another profit amid China production boost
- Would have to ‘nit pick’ to find any negatives: Morgan Stanley
Tesla Inc. electric vehicles charge at the Tesla Supercharger station in Fremont, California.
Photographer: Nina Riggio/BloombergThis article is for subscribers only.
Tesla Inc. shares extended their meteoric gains as even the most pessimistic analysts struggled to find faults in the electric car-maker’s quarterly earnings report.
It was a “home-run quarter” for Elon Musk, according to Wedbush’s Dan Ives, as the company reinstated its original delivery target of 500,000 units in 2020 and reported its fourth consecutive profit. Cowen’s Jeffrey Osborne upgraded his rating to market perform, removing the underperform recommendation he has held since initiating coverage of the stock in 2016.