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06.04.2021

Tesla posts record deliveries, stocks surge

Tesla posts record deliveries, stocks surge

In a knee-jerk reaction, the company’s stocks surged as much as 7% before finishing 4.43% higher on Monday

Stocks impacted: Tesla Inc. (TSLA)

The electric vehicle maker posted record quarterly deliveries for the first quarter, prompting Wedbush to upgrade the stock to Outperform from Neutral and raised its 12-month target price for the company to $1,000 from $950. Meanwhile, analysts at JPMorgan raised their price target on Tesla shares to $155, from $135. Tesla delivered 184,800 vehicles, more than doubling last year's 88,400 first-quarter deliveries, and exceeded its prior quarterly record of 180,570 hand-overs from the fourth quarter of 2020. The data was revealed last Friday when the stock market was closed in observance of Good Friday. So investors had several days to digest the results. In a knee-jerk reaction to the release, the company’s stocks surged as much as 7% before finishing 4.43% higher on Monday.

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