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Gary Black Raises Tesla Price Target As Ex-Ford CEO Notes Irony of Auto-Driven Stock Rally Amid Elon Musk’s AI And Robotics Focus

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Tesla Inc. (NASDAQ:TSLA) bull Gary Black on Friday raised his price target on the EV giant’s shares from $200 to $270 in addition to revising his estimates for the company’s full-year vehicle delivery volume and earnings per share.

What Happened: The Future Fund Managing Partner increased his adjusted EPS (earnings per share) estimate for 2024 to $2.4 from $2.2 while adding that Tesla will likely deliver 1,707,000 vehicles for the whole year, down from the 1,808,581 units delivered in 2023.

Despite the increase, Black’s estimates are still behind Wall Street estimates of an adjusted EPS of $2.46 and deliveries of 1,804,000 units for the year.

For 2030, however, Black is more optimistic. The analyst now estimates an adjusted EPS of $15 for Tesla in 2030, up from his previous $14.5 estimate, and much higher than Wall Street estimate of $12.

Full story available on Benzinga.com

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