Hyperdrive
Tesla Soars as Bearish Analysts Left With Little Complaints
- Company expects to deliver at least 500,000 cars this year
- U.S. carmaker’s shares poised for record high after earnings
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Tesla Inc. shares soared 11% after the carmaker reported record revenue that beat estimates and projected it will deliver at least half a million vehicles this year, leaving bearish analysts with few negatives to cling to.
Cash flow was also “very strong,” at more than $1 billion in the fourth quarter, Morgan Stanley’s Adam Jonas wrote in a note to clients. There’s “really nothing here for the bears to highlight,” added the analyst, who cut his rating on the stock to underperform just two weeks ago.