From Morningstar: 2024-10-24 04:58:43

Tesla TSLA exceeded Q3 earnings expectations with a boost in profit margins to 20.1% in the automotive segment. Stock rose 12% in post-market trading. Price target raised to $210 per share. Expectations for a sub-$30,000 affordable vehicle production in 2025. Megapack battery capacity achieved, with China facility expected in 2025 for energy generation and storage growth.

Anticipate slower delivery impact in 2025 from affordable vehicle, but double-digit growth in 2026. Full production at Megapack facility with capacity of 40 gigawatt-hours of batteries. Strong demand for Megapack driving high-double-digit deployments growth in 2025. Tesla remains optimistic for 2024 and 2025 with improved outlook from management.



Read more at Morningstar: Raising Fair Value for Tesla After Strong Q3 Earnings