TSLA

Tesla, Inc.

697.99
USD
-5.00%
697.99
USD
-5.00%
620.46 1243.49
52 weeks
52 weeks

Mkt Cap 700.97B

Shares Out 1.00B

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Why Tesla Stock Jumped on Friday

What happened Shares of electric-car maker Tesla (NASDAQ: TSLA) were trading sharply higher on Friday. Specifically, the stock rose as much as 6.7% Monday morning and was up 5% as of 10:50 a.m. ET. The stock's gain was likely driven by a combination of an upbeat day in the overall stock market, as well as an analyst's bullish comments on the stock on Friday. So what Year to date, Tesla stock has declined about 29%. This decline, which is worse than the S&P 500's 13.5% pullback during the same period, has created an attractive buying opportunity for investors, according to Credit Suisse analyst Dan Levy. Levy's bullishness comes after he visited Tesla's factory in Fremont, California. Though he acknowledged that near-term pressure on Tesla's deliveries due to challenges at its factory in Shanghai is likely, he was upbeat about continued manufacturing momentum at its factory in California. Overall, Levy remains bullish on the company's long-term opportunity. The analyst has an outperform rating on the stock and a price target of $1,125. This 12-month price target impressively translates to about 50% upside from where shares are trading today. Now what Investors, of course, shouldn't rely on analyst price targets to choose stocks. They should do their own due diligence and consider whether the stock's current valuation is attractive relative to the underlying business's momentum and the company's long-term growth potential. But to Levy's credit, Tesla's underlying business seems to be performing exceptionally well this year. Despite global supply challenges in the automotive industry and a pause in production at Tesla's factory in China during Q1, the company managed to grow production 61% year over year and deliveries 68%. Further, Tesla continues to expect to grow deliveries 50% or more this year. Find out why Tesla is one of the 10 best stocks to buy now Our award-winning analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed their ten top stock picks for investors to buy right now. Tesla is on the list -- but there are nine others you may be overlooking. Click here to get access to the full list! *Stock Advisor returns as of April 27, 2022 Daniel Sparks has no position in any of the stocks mentioned. His clients may own shares of the companies mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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