Tesla Gets Price Target Bumps By Analysts After Strong Q4 Results

Tesla Inc TSLA reported better-than-expected results for its fourth quarter.

Tesla reported quarterly revenue of $24.32 billion, which was up 37% year-over-year, beating a Street estimate of $24.16 billion. The company’s adjusted earnings per share of $1.19 topped a Street estimate of $1.13.

Vehicle production totaled 439,701 units in the fourth quarter, while deliveries amounted to 405,278 electric vehicles.

Tesla shares jumped 7.7% to trade at $155.58 on Thursday.

These analysts made changes to their price targets on Tesla following the release of results.

• Citigroup boosted the price target on Tesla from $137 to $146. Citigroup analyst Itay Michaeli maintained a Neutral rating on the stock.
• B of A Securities raised the price target on the stock from $130 to $155. B of A Securities analyst John Murphy maintained the stock with a Neutral.
• Wolfe Research increased the price target on Tesla from $160 to $185. Wolfe Research analyst Rod Lache maintained the stock with an Outperform.
• Wells Fargo boosted the price target on Tesla from $130 to $150. Wells Fargo analyst Colin Langan maintained the stock with an Equal-Weight.
• Cowen & Co. boosted the price target on Tesla from $122 to $140. Cowen & Co. analyst Jeffrey Osborne maintained the stock with a Market Perform.
• Wedbush raised the price target on Tesla from $175 to $200. Wedbush analyst Daniel Ives maintained the stock with an Outperform.

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