“Folks want toright now,” said Chief Financial Officer Zachary Kirkhorn on the company’s earnings conference call. “It’s exhilarating for us.” , for the most part, agrees with that sentiment. Analysts are impressed with Tesla’s (ticker: TSLA) profitability and see better . after the solid quarter. In his Thursday report, analyst Adam Jonas suggested that Tesla could be considered the most profitable mass-market automaker in the world. (Tesla is better than most but doesn’t make the millions of vehicles other automakers do.) “What’s particularly notable is Tesla’s margin performance despite cost inflation,” he added. Tesla is paying more for shipping and semiconductors, which remain in .
Jonas rates Tesla. His . New Street Buy—blew past that target price after earnings. He target to $1,298 from $900. It’s the new high price target on the Street and values Tesla at about $1.3 trillion. Tesla has reached “escape velocity,” according to Ferragu, who pointed out in a Thursday profit margins are roughly twice that of a typical auto manufacturer. He feels better about the company’s long-term prospects, writing Tesla’s position has “strengthened.” RBC analyst Joseph Spak , although he raised his target price after Tesla’s report, going to $800 from $755.
Speak was impressed with margins, too, but warned investors not to expect any more improvement for a few quarters. “Austin and Berlin’s factories are launching [and] will face ramp inefficiencies,” he wrote in a Thursday note. Austin, Texas, and Berlin are Tesla’s two new impact of a labor shortage as well as higher logistics costs,” Spak noted. Looking ahead, Wedbush analyst Dan Ives called the Austin and 18 months. With Austin and Berlin at total capacity—which will come 12 to 18 months after start-up—Tesla will have about 2 million units of annual capacity. expected Tesla to deliver roughly 860,000 vehicles in 2020.. Tesla is “also seeing commodity cost increases and
Ives, like Ferragu and Jonas, rates Tesla. His new , raised by $100 after the quarter. Everyone seems impressed—even the bears. Barclays analyst Brian Johnson noted strong margin performance in his Thursday report. He also commented positively about Tesla’s insurance products, rolling out based on driving behavior and usage. Johnson didn’t target, though he had raised it to $300 from $230 about a week before the earnings report. Johnson rates Tesla . Tesla , at $894, as the average analyst price target rose almost 6%, going from about $669 to $706 a share. The
beats or rising target prices. The market, as ever, is forward-looking, and Tesla stock rose about 12% between when the company reported third-quarter deliveries on Oct. 2 and the disclosure of the results . The Tesla stock is now trading at about 115 times the estimated 2022 numbers. That isn’t too rich for the bulls. Ferragu believes Tesla should trade at 75 times his of $17.30 a share. He sees Tesla delivering 2.4 million vehicles that year.