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'Home-run quarter' for Tesla; stock extends gains, gets upgraded

The company reinstated its original delivery target of 500,000 units in financial year 2020 and reported its fourth consecutive profit.

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Cowen’s Jeffrey Osborne upgraded his rating to market perform, removing the underperform recommendation he held since initiating its coverage in 2016.

Bloomberg
Tesla shares extended their meteoric gains as even the most pessimistic analysts struggled to find faults in the electric carmaker’s quarterly earnings report.

It was a “home-run quarter” for Elon Musk’s firm, according to Wedbush’s Dan Ives, as the company reinstated its original delivery target of 500,000 units in financial year 2020 and reported its fourth consecutive profit. 

Cowen’s Jeffrey Osborne upgraded his rating to market perform, removing the underperform recommendation he held since initiating its coverage in 2016.

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First Published: Jul 24 2020 | 2:14 AM IST

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