Goldman Sachs analyst Mark Delaney raised the firm’s price target on Tesla (TSLA) to $250 from $230 and keeps a Neutral rating on the shares. The company reported better gross margins in Q3 and reiterated that it expects vehicle volumes to grow in 2024 as well as deliveries to increase by 20%-30% in 2025, the analyst tells investors in a research note. The firm believes the earnings report “is an incremental positive,” with stronger margins than expected. However, key debates will include whether Tesla can meet its full self driving performance and vehicle delivery growth targets for 2025, and also the sustainability of margins, adds Goldman.
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