Tesla shares rise 5.2% despite Bernstein's price target reduction, driven by Italy production site negotiations.
Tesla shares surged 5.2% despite a price target reduction by Bernstein to $120 per share due to soft demand for Tesla's EVs. This growth could be attributed to Tesla's negotiations with the Italian government to establish a production site in Italy for building electric trucks and vans, potentially expanding its market and customer base. Wall Street predictions have been challenged by this development, highlighting CEO Elon Musk's ability to surprise investors and competitors.
March 26, 2024
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