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Investing.com - Cantor Fitzgerald has raised its price target on Tesla (NASDAQ:TSLA) to $510.00 from $355.00 while maintaining an Overweight rating on the stock. The target sits well within the current analyst range of $120 to $600, though InvestingPro analysis suggests the stock is trading above its Fair Value.
The firm cited Tesla’s disclosure that volume production of Cybercab, Semi, and Megapack 3 are all on track for fiscal year 2026, with production lines for Optimus also targeted for next year.
Cantor Fitzgerald views these production timelines as significant developments for the electric vehicle manufacturer and expects a "significant increase" in capital expenditures for next year.
The research firm models approximately $9.2 billion in capital expenditures for fiscal year 2025 and approximately $12 billion for fiscal year 2026.
Cantor Fitzgerald remains bullish on Tesla over the medium-to-long term, seeing meaningful future upside potential from Energy Storage & Deployment, Full Self-Driving (FSD), Robotaxis/Cybercab, Semi trucks, and Optimus robots.
In other recent news, Tesla’s third-quarter earnings report revealed revenue of $28.1 billion, surpassing both Benchmark’s estimate of $25.9 billion and the FactSet consensus of $26.5 billion. The company’s gross margin stood at 18.0%, which was slightly below Benchmark’s 18.8% projection but above the 17.5% consensus. Following these results, Cantor Fitzgerald raised its price target for Tesla to $510, citing strong performance in revenue, gross margin, and free cash flow, driven by record vehicle deliveries and growth in the energy segment. Meanwhile, Truist Securities increased its price target to $406, maintaining a Hold rating due to Tesla’s mixed results and lack of forward guidance. Freedom Capital Markets also upgraded Tesla’s stock rating from Sell to Hold, highlighting the potential of a new segment. Additionally, the National Highway Traffic Safety Administration (NHTSA) is in contact with Tesla over its "Mad Max" mode, a driver assistance feature that has raised speed concerns. Benchmark has maintained its Buy rating and a $475 price target, emphasizing Tesla’s strong third-quarter performance. These developments reflect a mix of regulatory scrutiny and positive financial assessments for Tesla.
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