Tesla (TSLA) Stock: $1,293 Target And Outperform Rating

By Amit Chowdhry ● Aug 4, 2022
  • The shares of Tesla (TSLA) recently received a $1,293 price target from Oppenheimer. These are the details.

The shares of Tesla (TSLA) recently received a $1,293 price target from Oppenheimer. And Oppenheimer analyst Colin Rusch is maintaining an “Outperform” rating on the shares.

Rusch adjusted the rating while noting out that Tesla posted largely in-line second-quarter manufacturing results in a challenging quarter with upside coming from the non-auto businesses and better-than-expected operating leverage, there were several notable technologies and business model takeaways. 

The supply chain and manufacturing throughput at the Austin and Berlin facilities appear to be tracking well. And the 4680 ramp problem-solving appears to be making progress toward acceptable yields. Plus FSD is tracking to a full functionality rollout by year-end along with a price increase. Rusch is also starting to see the potential for operating margin expansion to 25% given scale-up and OpEx management similar to leading technology platforms. 

Going forward, Rusch continues to see Tesla driving both product cost and value ahead of peers and remains bullish on shares.