JPMorgan analysts have noted that Tesla's sales momentum is accelerating as the company moves into May.
This assessment is based on a meeting with Tesla's investor relations representatives, according to analyst Rajat Gupta.
Key Factors Driving Demand
JPMorgan points to several factors boosting demand. These include rising fuel prices, increasing demand for autonomous driving products, and reduced competition as traditional automakers scale back their electric vehicle investments.
Strong European Trends
Gupta indicated that demand trends in Europe are "strong."
Cybercab Production Update
Management emphasized that production of the Cybercab is still ramping up gradually. The company's second-quarter financial report is expected to provide a clearer picture of the production and validation process for this autonomous taxi.
Optimus Robot Status
Gupta also noted that the Optimus robot business remains in its early stages.
JPMorgan's Rating
JPMorgan maintains an "underweight" rating on Tesla, with a price target of $145.
Tesla Motors (ASX: TSLA)
Shares of Tesla closed up 1.9% on Tuesday.
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JPMorgan Reports Accelerating Sales Momentum for Tesla
Deep News06:10
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