Tesla's deliveries rose during the quarter, setting a new company record, despite chip shortages and supply chain challenges weighing on the industry.
ahead of earnings calls, seeking updates on the now-delayed Cybertruck, Tesla's 4680 battery cells, and whether a $25,000 electric car, which Musk teased last year, is still underway.
Ahead of the report, Bank of America raised its price objective for Tesla shares higher to $900 per share from $800. BofA raised its price target because Tesla has a "track record of growth, consistent capital raises, and overall investor hype." Tesla could also potentially benefit from increases in federal or state incentives, rising gasoline prices, better execution and cost containment, and benefit from short sellers covering their positions.
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