Tesla (TSLA) was upgraded to market outperform from market perform at JMP Securities, which has a $516 price target on the electric vehicle maker. "We do believe the outlook for margins and for cash flow generation over the next several years appears to be higher than we thought. This impacts not only our financial model, but also the level of risk we assign to our 2025 outcome and the multiple we apply," said analysts Joseph Osha and Hilary Cauley. Other analysts positively reacted to Tesla's earnings, including those at Baird who also upgraded the vehicle maker ( ). Tesla shares rose nearly 4% to $438.76 in early trade.
-Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 22, 2020 09:36 ET (13:36 GMT)
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