Tesla shares to soar more than 80% on strong Model 3 profitability: Analyst

9:56 AM ET Mon, 21 May 2018

The hand-wringing over Tesla's ability to generate profits on the Model 3 is overblown, according to Berenberg. The firm raised its price target for Tesla, predicting the electric car maker will be able to meet its 25 percent gross profit margin forecast for the Model 3. Berenberg also reiterated its buy rating for the stock.