Tesla Inc TSLA shares are trading higher by 5.19% to $222.21 as the stock rebounds after falling Monday on China price cuts. The stock may also be higher amid overall market strength as stocks gain on earnings momentum and hopes of future Federal Reserve policy softening.
Tesla is also trading higher despite an earlier call from Morgan Stanley analyst Adam Jonas maintaining Tesla with an Overweight and lowering the price target from $350 to $330.
See Also: What To Watch On Tesla's Chart Following Bearish Earnings, Price Target Cut
What Else?
Tesla last week also reported third-quarter revenue of $21.45 billion, up 56% year-over-year. The total came in shy of analyst estimates of $21.96 billion. The company reported automotive revenue of $18.69 billion in the third quarter, up 55% year-over-year.
In the third quarter, Tesla reported record revenue, free cash flow and operating profits despite what the company called “material headwinds.”...Read More
According to data from Benzinga Pro, Tesla has a 52-week high of $414.50 and a 52-week low of $198.59.
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