Stifel raised the firm’s price target on Tesla (TSLA) to $508 from $483 and keeps a Buy rating on the shares. After “strong” Q3 sales, the firm expects some headwinds for auto sales following the expiration of the U.S. EV tax credit, but the firm also believes Tesla is making strong progress on FSD and Robotaxi, both of which it view as critical to value creation. The firm is raising its price target based on its sum-of-the-parts analysis, the analyst noted.
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