Stifel initiates Tesla stock with a Buy rating, sees 45% upside potential
) with a Buy rating and setting a price target of $265, which implies an upside potential of about 45% based on Tuesday's closing price."In the near term, the revamped Model 3 and upcoming Model Y refresh should bolster sales, followed by the commencement of its next-generation vehicle production, which will likely garner very strong demand," analysts wrote.
Tesla, led by CEO Elon Musk, is recognized as the global leader in the EV market, holding a dominant share in the United States. Stifel's confidence in Tesla stems from its robust technology portfolio, global manufacturing footprint, and strong profitability. The Supercharger network was also mentioned as a key element driving brand loyalty, sales, and profitability for Tesla.
Moreover, Tesla's energy generation and storage business is seen as a potentially significant growth driver.
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