Tesla gains after Credit Suisse turns bullish on long-term margin potential
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Credit Suisse upgraded Tesla (NASDAQ:TSLA) to an Outperform rating on Monday after having the EV stock slotted at Neutral. The recent share price drop is seen as an attractive entry point for long-term investors.
Crucially, analyst Dan Levy and team think that strong margins from Tesla (TSLA) are sustainable along with volume growth.
"Tesla is a 1 of 1: we are hard pressed to find a stock that checks all the boxes as Tesla does â attractive growth story (both top-line and EPS), disruption, decarbonization, etc. Accordingly, with robust fundamentals ahead and with the stock having been caught in the market decline, we believe the stock should recover."
Credit Suisse assigned a price target of $1,025 to TSLA.
Shares of Tesla (TSLA) are up 2.37% premarket to $866.44.
Tesla (TSLA) is one of the top stocks listed on Seeking Alpha's Catalyst Watch this week.