February 4, 2023

Tesla Motors, Inc. (NASDAQ:TSLA) – Read Why JPMorgan Bumped Up Tesla Price Target By 18%

JPMorgan analyst Ryan Brinkman raised the price target on Tesla Inc (NASDAQ: TSLA) to $295 from $250 and reiterated Underweight. The price target implies a downside of 72.1%.

  • After Tesla reported “much stronger than expected” Q4 deliveries, Brinkman raised estimates.
  • Related Content: Analyst Says Tesla’s Q4 Is A ‘Trophy Case’ Quarter, Why He Thinks Momentum Building Into 2022
  • Tesla delivered 308,600 vehicles in Q4, far above the consensus of $265,701 and the 227,586 Brinkman had modeled during the Q3 results.
  • Brinkman now forecasts Q4 EPS of $2.22, up from the prior estimate of $1.54 and Bloomberg consensus of $1.98.
  • Brinkman also extrapolates the higher rate of Q4 deliveries into future quarters, leading to higher operating leverage than his previous model.
  • Price Action: TSLA shares traded higher by 7.49% at $1,135.94 in the premarket session on the last check Monday.

Latest Ratings for TSLA

Date Firm Action From To
Dec 2021 Deutsche Bank Maintains Buy
Dec 2021 Argus Research Maintains Buy
Dec 2021 Guggenheim Initiates Coverage On Neutral

View More Analyst Ratings for TSLA

View the Latest Analyst Ratings

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