Tesla stock surged 6.9% on positive reports of strong China sales and a price target increase

From Nasdaq: 2025-01-03 15:29:13

Tesla stock (NASDAQ: TSLA) surged 6.9% amid overall market gains. Positive reports on strong China sales and a price target increase from Canaccord fueled the rally.

Tesla’s sales in China grew 8.8% YoY, with 657,000 vehicles sold in 2024. Q4 deliveries fell short of estimates, but signs of momentum in China are promising.

Canaccord raised Tesla’s price target to $404, citing long-term growth potential in self-driving tech, batteries, and robotics. Despite current gains, analysts see Tesla as a long-term winner.



Read more at Nasdaq: Why Tesla Stock Is Surging Today