Analyst Sees TSLA Delivery Climb, International EVs Continue to Accelerate

Core Viewpoint - Tesla is experiencing a significant increase in stock price and positive analyst revisions, particularly from Canaccord, which raised its price target to $490 from $333, citing rising delivery estimates and upcoming new models as key factors for growth [3][4][10]. Group 1: Tesla's Stock Performance - Tesla shares have risen over 60% since early June, with a month-to-date gain of approximately 31% [1][5]. - The average price target for Tesla has increased by $33 over the past month, now sitting at around $350 per share [4]. - Tesla is on track for one of its best months on record, with only May 2013 showing a stronger performance [6][7]. Group 2: Analyst Insights - Canaccord's bullish stance is supported by data from 30 countries indicating rising deliveries, marking a positive trend after several quarters of weakening momentum [3][9]. - The firm anticipates that new electric vehicle models will be announced soon, which could further enhance global sales momentum [4]. - Wedbush analyst Dan Ives has the highest price target for Tesla at $600, reflecting a wide range of opinions on the stock [8]. Group 3: Market Context - The current trading environment shows mixed results for electric vehicle stocks, with Tesla under pressure alongside Rivian, while BYD has seen a modest increase of 1.4% [2]. - The impending expiration of the $7,500 electric vehicle tax credit is a critical factor influencing buyer behavior and market dynamics [1][10].