Investor's Corner
Tesla (TSLA) analysts settle on bullish outlooks after impressive Q3 Earnings
Tesla (NASDAQ: TSLA) revealed an impressive third-quarter in terms of production, deliveries, and profitability during its Q3 Earnings Call on October 21st. The quarter was referred to as “our best quarter in history” by CEO Elon Musk, and analysts at various Wall Street firms have revised their price target outlooks for the electric automaker.
Analysts at Baird, JMP Securities, Oppenheimer, Wedbush, and Canaccord Genuity all revised their outlooks for Tesla’s stock by increasing their price targets. The boost in PTs without a doubt came from Tesla’s impressive Q3 performance, but each analyst had their own reasoning for the figure they came up with.
Baird
Baird analysts Ben Kallo and David Katter bumped their price target to $488 from $450, marking the second time they’ve upgraded Tesla’s outlook in October. The Baird analysts also upgraded TSLA shares to “Outperform.” Interestingly, Kallo and Katter’s note to investors indicated that they were wrong for downgrading the stock to a “Neutral” rating in January, stating that their move was “too early.” After their revised “Neutral” rating, TSLA shares soared over 400% on the year.
“Clearly incorrect, we are now upgrading share as we think TSLA has the substantial access and ability to deploy capital, and has multiple ways to drive substantial revenue growth,” Baird’s note said to investors. “Tesla’s competitive moat over peers is substantial (and growing, enabled buy rapid capital deployment) and we think it is unlikely traditional OEMs [original equipment manufacturers] will be able to effectively compete over time.”
JMP Securities
Joseph Osha and Hilary Cauley of JMP Securities boosted their price targets for TSLA stock to $516 after the Q3 Earnings Call. The two analysts also upgraded the stock with an “Outperform” rating.
“In terms of the stock, we have tried to keep our eye on the horizon as opposed to being influenced by quarter-to-quarter developments. Even though commentary yesterday caused us to raise our outlook for 2021, it does not by itself give us cause to change our stance on the stock,” JMP wrote to investors in a note. “That said, we do believe the outlook for margins and for cash flow generation over the next several years appears to be higher than we thought. This impacts not only our financial model, but also the level of risk we assign to our 2025 outcome and the multiple we apply.”
Oppenheimer
Oppenheimer analyst Colin Rusch boosted his price target to $486 from $451 and also placed an “Outperform” rating on TSLA stock. Rusch is a notable Tesla bull who has advised long-term investors to buy the automaker’s stock “on any near-term weakness.” Additionally, Rusch has stated in the past that perhaps Tesla’s biggest advantage is software and Over-the-Air Updates, which have stumped legacy automakers.
In terms of the Q3 Earnings Call, Rusch’s outlook is based on financials and Tesla’s future developments. “We are encouraged by improving manufacturing margins and factory throughput, which gives us comfort in raising out-year GM estimates and PT,” he said. “We are watching closing for accelerating growth in recurring revenue from insurance, financing, software-driven applications like robotaxi’s, which may begin to shift valuation multiples higher.”
Wedbush
Wedbush’s Dan Ives boosted his Bull Case price target to $800 following the Q3 Earnings Call and reflects on the potential of Giga Shanghai’s output as a clear indicator of Tesla’s future success. While his base price target remained at $500 with a “Neutral” rating, Ives does see overwhelming EV demand growth playing out in Tesla’s favor.
“China remains the ‘hearts and lungs’ of the Tesla demand growth story playing out over the next year along with underlying Europe EV strength playing out in the field,” Ives wrote. “We are raising our bull case from $700 to $800 reflecting these improving demand/profitability dynamics heading into 2021 for Tesla despite a soft macro and COVID backdrop.”
Canaccord Genuity
Jed Dorsheimer of Canaccord Genuity maintained a “Hold” rating but boosted his price target to $419 from $377. Dorsheimer’s main outlook has been boosted based on Tesla’s focus on automotive manufacturing, which has been a main concern moving forward to increase efficiency and production output.
“TSLA remains a juggernaut in the EV space that deserves credit for the vision and willingness to challenge the status quo in auto manufacturing. We maintain our HOLD rating though, as we feel the bull-bear debate is unlikely to abate and valuation appears rich by any standard,” Dorsheimer’s note to investors stated.
Tesla recorded its fifth-consecutive quarterly profit, non-GAAP earnings of $0.76 per share, $809M GAAP operating income and a $5.9B increase in cash and cash equivalents.
Tesla (TSLA) crushes Q3 earnings with record profit, accelerates global growth
Disclaimer: Joey Klender is a TSLA Shareholder.
The Ontario Teachers’ Pension Plan (OTPP) stands to reap one of the most extraordinary returns in pension fund history thanks to a bold 2019 investment in SpaceX.
According to a recent report from The Globe and Mail, the Toronto-based fund invested roughly $300 million CAD (~$220 million USD at the time) in Elon Musk’s space company as its inaugural deal through the Teachers’ Innovation Platform.
At SpaceX’s anticipated $1.75 trillion IPO valuation, set for a mid-June debut on Nasdaq under ticker $SPCX, that stake could now be worth up to $11.6 billion USD. This would represent a roughly 50x return and easily become OTPP’s most successful single investment ever.
The fund manages $279 billion in assets for approximately 346,000 working and retired teachers in Ontario, potentially delivering an average boost of around $33,500 per member if fully realized.
SpaceX has filed its S-1 and plans to price shares at $135 each, aiming to raise a record $75 billion in what would be the largest IPO in history, surpassing Saudi Aramco. The company reported $18.67 billion in revenue for 2025, driven primarily by Starlink satellite internet growth and NASA contracts, though it continues to post significant losses tied to ambitious R&D in Starship and AI initiatives.
Important pieces moving forward include:
- Starlink Expansion: The satellite broadband service is scaling rapidly, targeting global connectivity, especially in underserved rural and remote areas. This segment offers massive recurring revenue potential as numbers climb.
- Starship and Reusability Leadership: SpaceX’s fully reusable Starship aims to slash launch costs dramatically, enabling frequent missions, Mars ambitions, and lucrative government/defense contracts. Success here could unlock exponential growth.
- AI and Diversification: Recent moves, including ties to xAI, position SpaceX in high-growth AI infrastructure, broadening beyond traditional aerospace.
- Validation Scrutiny: While the $1.75 trillion target excites investors, analysts like Morningstar value the company closer to $780 billion, citing high multiples (around 90x trailing revenue) and execution risks. A 180-day lockup period will prevent early investors like OTPP from selling immediately post-IPO.
The irony has not been lost on observers. Ontario’s government previously canceled a Starlink rural internet contract amid political tensions involving Musk, yet the pension fund’s savvy investment, made when SpaceX was valued around $33-36 billion, and Starlink was nascent, delivers outsized gains independent of politics.
For OTPP, this windfall strengthens its already solid 111 percent funding ratio and underscores the value of patient, innovation-focused capital allocation.
For SpaceX, the IPO marks a new chapter: greater transparency, access to public markets for talent retention and growth capital, and heightened pressure to deliver on its multi-planetary vision.
All eyes are fixed on whether SpaceX can justify its lofty valuation through sustained execution. For Ontario teachers, the returns are already stellar, but SpaceX, like other Musk companies in the past, has plenty of things to prove. Perhaps the most ideal person for the job is at the helm, hoping to bring the company to a massive valuation.
Tesla has its answer to grow its automotive sales over the next few years, TD Cowen analyst Itay Michaeli says, but it just has to bring it to the U.S.
On Thursday, Michaeli reiterated his $490 price target and the ‘Buy’ rating he already held on Tesla stock (NASDAQ: TSLA). However, its automotive division has struggled to show sequential growth over the past few years, mostly due to its focus on AI and Full Self-Driving. Tesla already axed two of its lower-volume vehicles with the Model S and Model X earlier this year.
However, Tesla does not need to engineer an entire new vehicle to trigger an upward tick in sales; it just has to bring it from China to the U.S., Michaeli said.
He is talking about the Model Y L, a slightly larger version of the all-electric crossover that is already available in China. U.S. customers have been pleading with CEO Elon Musk to bring it to the country since its launch in Asia last year, but he’s not convinced of it because of the advent of self-driving and its importance in this particular market.
The problem is that Tesla owners have been requesting something larger that could fit a typical American family. The Model Y L is slightly larger than the standard Model Y, but some are concerned that it could still be too small to fit what most people might need.
Instead, they have asked for a full-size SUV from Tesla.
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Nevertheless, the Model Y L still presents a great opportunity for Tesla in the U.S., and Michaeli says that there is an additional sales opportunity of about 100,000 units, with demand potential falling somewhere between 60,000 and 135,000 units.
TD Cowen’s note to investors also analyzed that Tesla’s growth could come from a stock perspective as well, positively impacting the stock price, as it has been widely reliant on vehicle sales, even though Tesla has truly phased itself away from that being an important metric.
Tesla stands to gain greatly from the introduction of the Model Y L in the U.S., but only if Elon Musk sees it as a viable fit for the market. Families may need to see Tesla bring something larger to the U.S., or they might be forced to buy from another automaker that offers something that fits is needs for more interior space to haul around the kids.
Elon Musk
SpaceXAI just launched into your kitchen with their new app
SpaceXAI just powered its first consumer app and it predicts what you want to buy.
SpaceXAI just made its first move into consumer AI, and it involves your grocery cart. On June 3, 2026, Gopuff and SpaceXAI announced the launch of Go, a Grok-powered shopping assistant built directly into the Gopuff app that predicts what you need before you even start searching for it.
Gopuff is an instant delivery platform that operates more than 400 micro-fulfillment centers across the U.S., delivering everyday essentials, snacks, drinks, and household items in as little as 15 minutes. It is not a restaurant delivery app or a marketplace. It owns its inventory, controls its warehouses, and handles its own logistics, which means it has built one of the most detailed consumer behavior datasets in retail over its 13-year history.
Go combines SpaceXAI’s advanced reasoning, voice, and image generation models with Gopuff’s dataset of hundreds of millions of orders and real-time cultural signals from X to prepare a suggested cart the moment a customer opens the app. It learns each shopper’s habits and automatically builds a personalized cart based on time of day, location, order history, and real-time indicators. Returning customers can check out with a single tap.
Rather than searching for specific items, users can describe a situation like a game-day party or the desire for a healthy breakfast and Go will assemble a cart automatically. It can also predict when shoppers are running low on items like coffee or paper towels and have them packed and delivered in under 15 minutes. Grok voice integration lets users talk to the app in plain conversational language and check out completely hands-free.
Gopuff co-founder and co-CEO Yakir Gola said: “Today, we believe the greatest friction left in commerce is not delivery or instantaneous access to the essentials customers need. It’s the moment before: the thinking, the deciding, the remembering. We’re combining Gopuff’s demand intelligence with xAI’s frontier reasoning to create an everyday shopping experience that feels like a true extension of you.”
Why SpaceX just made a $60 billion bet on AI coding ahead of historic IPO
The timing carries context beyond the product launch. SpaceXAI was formed after SpaceX completed an all-stock merger with Elon Musk’s xAI earlier this year, folding one of the most advanced AI labs in the world into the same corporate structure as the company preparing what could be the largest IPO in history. SpaceXAI is dipping into consumer-focused AI just as it prepares for its public debut, and while Musk has openly discussed building an everything app, this launch uses Grok to power another company’s product rather than launching a standalone consumer platform. Every consumer-facing deployment of Grok ahead of the IPO roadshow adds tangible evidence that SpaceXAI is not just an infrastructure play but a direct competitor in the AI application layer where OpenAI and Google are already fighting for dominance.
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