TSLA Stock Rises 3% In Tuesday Pre Market: What's Going On?

Tesla Inc. TSLA stock experienced a 2.68% rise on Tuesday during pre-market hours, according to Benzinga Pro.

This uptick was driven by a combination of factors, including a revised price target from Morgan Stanley and advancements in Tesla’s Full Self-Driving (FSD) technology, as highlighted by Tesla enthusiast Gary Black.

Morgan Stanley elevated Tesla’s price target from $400 to $430, with a bullish scenario reaching $800. The firm cited potential growth in autonomous rideshare and robotaxi services as key factors.

Additional gains were fueled by positive reviews of Tesla’s updated Model Y and significant improvements in its FSD technology. Version 13.2 of the FSD showed a remarkable 750% increase in efficacy, achieving 724 miles per disengagement on highways, compared to 89 miles in the previous version, as shared by CEO Elon Musk.

Meanwhile, Tesla sold 12,991 Cybertrucks in the fourth quarter of 2024 in the U.S., bringing the total for the year to 38,965 units, according to the data. The company began delivering the Cybertruck in late November 2023, making 2024 its first full year of deliveries for the vehicle.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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