Analyst explains the 2 things driving Tesla stock

Barclays has raised its forecast for Tesla's (TSLA) third-quarter deliveries to 470,000 vehicles, significantly above Wall Street's prediction of 461,000. This bullish outlook is driving Tesla's stock higher. Barclays Senior Equity Research Analyst Dan Levy joins Morning Brief to discuss his projections. Levy identifies "two streams" currently propelling Tesla stock: fundamentals and "the excitement over the EV, AI narrative." He notes that Tesla has recently gained "stability on fundamentals," contributing to his optimistic third-quarter delivery outlook. Additionally, the EV, AI narrative is gaining momentum as the October 10th robotaxi event approaches. However, Levy expresses one concern: Tesla's high valuation. "There is a valuation issue here that I think is making some people uncomfortable. That's what underpins our Equal weight rating," he explains. "We think about things like autonomous [driving], which is gonna be the center of robotaxi day. There's a very long timeframe of really, truly monetizing the value of this." #youtube #stockmarket #news About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. Get the latest news and data at finance.yahoo.com Download the Yahoo Finance app on Apple (apple.co/3Rten0R) or Android (bit.ly/3t8UnXO) Follow Yahoo Finance on social: X: twitter.com/YahooFinance Instagram: www.instagram.com/yahoofinance/?hl=en TikTok: www.tiktok.com/@yahoofinance?lang=en Facebook: www.facebook.com/yahoofinance/ LinkedIn: www.linkedin.com/company/yahoo-finance

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