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Tesla Stock Resilience Defies Earnings Slump as Analyst Turns Bullish
Tesla Stock Resilience Defies Earnings Slump as Analyst Turns Bullish
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Tesla shares have surged 53% over the past six months despite consecutive quarters of declining deliveries, revenue, and profits. CEO Elon Musk's warning of continued challenges during the Q2 earnings call failed to deter investors, underscoring the market's focus on Tesla's long-term ambitions beyond electric vehicle manufacturing.
Baird analyst Ben Kallo has reversed his stance, acknowledging the market's willingness to overlook near-term automotive struggles. "We underestimated the look-through in the Core Automotive business," Kallo admitted, while maintaining expectations for further volume declines this year. The analyst's new street-high price target reflects growing confidence in Tesla's broader technological narrative.
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