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In a report published Thursday, Jefferies analyst Elaine Kwei reiterated a Buy rating on Tesla Motors
TSLA, and raised the price target from $68.00 to $70.00.
In the report, Kwei noted, “Wednesday after the close, TSLA posted big beats on deliveries, revenue, and earnings, driving the stock up approximately 25% in afterhours trading. TSLA's 1Q results demonstrated significant progress on costs in its first quarter at a full production run rate. The company raised FY2013 delivery guidance in a show of confidence. And things are just getting started.”
Tesla Motors closed on Wednesday at $55.79.
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