Tesla Inc (NASDAQ:TSLA) still can’t cut much ice with analysts at Barclays, which have kept its view on the electric car maker at ‘underweight’ even though the target price goes up.
Its rating is understandable given the new target price is US$300 (from US$230), compared to a current market price of US$811, but even Barclays seems to think the price might go up even more.
"Despite our scepticism around Tesla's sky-high market cap of ~$800bn, we are constructive on the stock going into the 3Q EPS release due to the combination of the delivery beat driving operating leverage and strong pricing.
“In short, Tesla was able to continue a healthy pace of production and deliveries despite the chip pressures most other major OEMs felt," it said.