Tesla Stock Breaks Out After EV Semi Launch

Tesla, Inc. (TSLA) shares have risen more than 8% since the beginning of the week after a series of big wins over the past few months. The company turned on the world’s largest battery in Southern Australia to power 30,000 homes earlier this month. Meanwhile, Tesla’s electric Semi trucks have secured orders from companies like Anheuser-Busch InBev SA/NV (BUD) and Pepsico, Inc. (PEP), and the company has started to build artificial intelligence hardware to reduce its reliance on NVIDIA Corporation (NVDA).

Consumer Edge analysts believe that Tesla could generate $2 billion to $3.5 billion in annual revenue from its trucking business. The firm believes that the electric vehicle maker could capture 5% of what is expected to be a smaller Class 8 truck market over the coming years. With an Overweight rating and a $385.00 price target, the Consumer Edge analysts believe that Tesla stock remains undervalued at its current levels, particularly given its decline in November. (See also: Tesla’s Electric Truck Meets Early Success.)

 

Tesla shares have rallied sharply higher over the past week, but traders will be watching these key resistance levels over the coming days. …read more

Read more here: Tesla Stock Breaks Out After EV Semi Launch

Category: TSLA, BUD, PEP, NVDA

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