Key facts: Tesla shares rise 3.4%; $29.56B net cash; Shanghai output up
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- Tesla (TSLA) shares rose 3.4% after Melius Research rated it 'Buy' with a $520 target. Evercore ISI increased its target from $235 to $300, citing strong rideshare potential.12
- Tesla (TSLA) has $29.56 billion in net cash, 2.2% of its market cap. Challenges include macroeconomic pressures and delays in product launches, while the Megapack segment shows strong growth.3
- Tesla increased production at its Shanghai gigafactory for Q4, with September deliveries of local vehicles rising 2.8%, ending a two-month drop in the Chinese market.4