Tesla Shares to soar more than 80% on strong Model 3 Profitability
- The hand-wringing over Tesla’s ability to generate profits on the Model 3 is overblown, according to Berenberg.
- Berenberg raises its price target for Tesla shares, predicting the car maker will meet its 25 percent gross profit margin forecast for the Model 3.
- The analyst raised his price target for Tesla shares to $500 from $470, representing 81 percent upside to Friday’s close.
- Tesla shares rose 2.5% mid-day trading Monday.