**Tesla Sees Stock Surge and Analyst Upgrades Following Strong Earnings Report**

Tesla’s recent earnings announcement has led to a wave of price target upgrades from Wall Street analysts, highlighting what may be a pivotal earnings call for the electric vehicle giant in 2024. The company posted an impressive beat in earnings per share, although it slightly missed its revenue targets. The standout metric, however, was Tesla’s automotive margins, which hit an impressive 17.05 percent, surpassing expectations.

The stronger-than-anticipated financials have significantly impacted Tesla’s stock, driving it up over 25 percent in the past five trading sessions. This rally can be partly attributed to the company's projection for 2025, which appears well-supported by plans to introduce more affordable models early next year.

Daiwa Securities is among the first to raise its price target for Tesla shares, increasing it from $225 to $285 while maintaining a neutral rating. Their optimism is rooted in Tesla’s robust Q3 performance, particularly within its automotive and energy sectors. Additionally, Daiwa foresees further margin improvement driven by the profitable launch of the Cybertruck, energy storage advancements in China, and the scale-up of the 4680 battery program.

CFRA analyst Garett Nelson also adjusted his price target, though modestly—from $220 to $225. Nelson acknowledges the strong Q3 showing but cautions investors about the sustainability of the reported gross margin. He notes that investor expectations were low, especially following four consecutive quarters of underperformance and a robotaxi update that left many questions unanswered.

Another positive outlook came from Canaccord Genuity’s George Gianarikas, who reiterated a 'Buy' rating and raised his price target from $278 to $298. Gianarikas believes that Tesla's positive earnings, solid margins, and strong non-GAAP EPS indicate a promising financial direction. He also sees long-term growth opportunities for the company as it expands its vehicle lineup and continues to develop its autonomy, AI, and energy storage capabilities.

As of the latest update, Tesla shares were trading at $270.61, reflecting strong investor confidence following the earnings report and subsequent analyst upgrades.