Tesla's Price Target Raised Again, Indicating Positive Outlook for Stock
Jefferies analyst Philippe Houchois raised the firm's price target for Tesla to $265 from $185, citing a consensus view that Q2 will be a trough in auto gross margin. Houchois maintained a Hold rating on the stock, noting a shift in valuation drivers based on Tesla's lead in AI-based self-driving software. Despite recent price cuts, Houchois believes there is still room for growth, especially with potential product refreshes and Tesla's operational performance advantage over legacy OEMs. Tesla is set to release its Q2 earnings results on July 19.