TSLA +3.2% on Upgrades, Futures Rise

Tesla (TSLA) is up 3.2% in pre-market trading after receiving positive analyst upgrades, with the stock price rising to $714.21. The upgrades come as a result of the company's strong delivery numbers and improving profitability. As a result, US futures are also higher, with the Dow Jones Industrial Average up 0.5% at 34,521 and the S&P 500 up 0.6% at 4,231.

What's Happening Right Now

US futures are indicating a positive start to the trading day, with the NASDAQ up 0.8% at 13,421. The Dow and S&P 500 are also higher, with the Dow up 0.5% and the S&P 500 up 0.6%. In terms of specific stocks, TSLA is leading the charge, with NVDA and AMZN also up 1.5% and 1.2%, respectively.

Why It Matters for US Investors

The positive analyst upgrades for TSLA are a significant catalyst for the stock's price movement. US investors should also be aware of the key economic data releases scheduled for today, including the US GDP growth rate and the Core PCE Price Index. These data points will provide valuable insights into the state of the US economy and may influence the trading activity throughout the day. Additionally, investors should keep an eye on the 10-year Treasury yield, which is currently at 1.93%, as it may impact the stock market's performance.

What Analysts Are Saying

Analysts are generally bullish on TSLA, with many expecting the company to continue its strong growth trajectory. According to Goldman Sachs, TSLA has the potential to reach $1,000 per share in the next 12 months, representing a 40% upside from current levels. Other analysts, such as those at Morgan Stanley, are also positive on the stock, citing its improving profitability and strong demand for electric vehicles.