.September 25, 2024 09:58 AM

Piper Sandler analysts raised Tesla’s price target to $310 from $300, maintaining an Overweight rating. They revised delivery estimates for Q3 to nearly 459,000 vehicles, a 3.3% increase quarter-over-quarter and 5.4% year-over-year. Full-year 2024 deliveries are forecasted at around 1.75 million units, up by 23,500 units from previous estimates. Tesla’s performance in China is expected to make Q3 its best quarter in the region, with Cybertruck deliveries driving demand in the U.S. despite weaker sales in Europe. The price target increase is also attributed to a lower WACC of 13.3% due to declining treasury yields.