Tesla Rises 0.68% to $342.27 as TD Cowen Repeats Buy and Musk Highlights SpaceX AI
Updated
Updated · Yahoo Finance · Aug 14
Tesla Rises 0.68% to $342.27 as TD Cowen Repeats Buy and Musk Highlights SpaceX AI
3 articles · Updated · Yahoo Finance · Aug 14
Summary
Tesla closed at $342.27, up 0.68%, with 45.1 million shares traded—about 4.6% above its three-month average—as the stock extended recent momentum.
TD Cowen helped drive the move by reiterating its buy rating, with analyst Itay Michaeli urging investors to add shares and setting a $460 price target, implying 34% upside.
Elon Musk also boosted sentiment after telling SpaceX employees that AI revenue should surpass its rocket and Starlink businesses by next month.
That matters for Tesla because Musk has tied the company’s long-term growth to autonomous driving and robotics, areas investors see as linked to SpaceXAI progress.
The gain came against a weaker backdrop: the S&P 500 fell 0.17%, the Nasdaq dropped 0.28%, while EV peers Rivian and Lucid slid 2.91% and 3.42%.