Analyzing Tesla: More Future Growth Catalysts, Hedge Fund Sentiment and Analyst Ratings

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Jefferies’ Philippe Houchois: BUY, $850 Price Target

On August 9, investment advisory Jefferies upgraded Tesla, Inc. (NASDAQ: TSLA) stock to Buy from Hold and raised the price target to $850 from $700. Philippe Houchois, an analyst at the advisory, cited higher battery electric demand and earnings leverage of the firm as some of the reasons behind the upgrade. The analyst also added that the growth of the EV industry was accommodating new competitors. He also raised the earnings estimates of the firm for the next fiscal year by 17% based on gross margin assumptions. 

You can also take a peek at 10 Stocks Jim Cramer and Ken Fisher Have in Common and 10 Best Nickel Stocks to Buy Now.

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