Tesla Motors, Inc. (NASDAQ: TSLA) – Jefferies raises Tesla price target to $ 400: & # 39; A Better Foundation & # 39;

Tesla Inc (NASDAQ: TSLA) shares rose on Monday after Jefferies boosted its target price for the stock along with a boost in EBIT and earnings per share pending revenue and earnings growth next year.

The analyst

Phillippe Houchois maintained a Buy rating on Tesla, raising the price target from $ 300 to $ 400.

The assignment

It may not be very smooth short-term sailing for the electric car manufacturer, but the gross margin level for the third the quarter is "consistent with sustained profitability," and Tesla's average sales prices should be stabilized, Houchois said in a statement on Monday. (See more results here.)

Jefferies raises its EBIT estimate from 2020 by 24% to $ 1

.16 billion and increases the EPS estimate for 2020 from $ 1.81 to $ 3.04.

"Stabilization in 2019 lays a better foundation for a return to grow revenue and revenue in 2020," Houchois said. "We value the absence of old problems, net revenue and revenue growth, and renewable technology edge from battery to autonomous."

Price Action

Tesla shares rose 3.34% to $ 348.39.

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Photo courtesy of Tesla.