Despite analysts’ mixed views on Tesla’s prospects, the company’s fourth-quarter revenue and net profit both beat expectations, pushing the stock up nearly 11 percent on Thursday. Elon Musk made a surprise visit to Capitol Hill on Thursday and met with U.S. House Speaker John McCarthy. “He came to wish me a happy birthday,” said McCarthy, who turns 58 on Thursday, “and we’ve been friends for years.”
Tesla CEO Elon Musk also released an upbeat message, saying recent price cuts have greatly boosted demand and that production is expected to reach 2 million cars this year. “If things go well this year and there are no major supply chain disruptions or major problems, we could potentially produce 2 million cars this year. I think the same kind of demand exists in the market.” Elon Musk told one analyst.
Tesla shares jump 10.97 percent
Analysts had mixed reactions to Tesla’s earnings report. “Some are bullish, some are bearish.” reads the headline of investment bank Bernstein’s morning report Thursday. Bernstein noted that the firm remains “uneasy about Tesla’s stock” and reiterated its “underperform” rating. Morgan Stanley analyst Adam Jonas was more optimistic, reiterating a “hold” rating and a $220 price target.
As of Thursday’s close, Tesla shares rose $15.84 to close at $160.27, up 10.97 percent, with a market capitalization of $506.1 billion.
Separately, Elon Musk made a surprise visit to Capitol Hill on Thursday and met with U.S. House Speaker McCarthy. “He came to wish me a happy birthday,” said McCarthy, who turned 58 on Thursday, “and we’ve been friends for years.”
Asked if he had discussed the debt ceiling with Elon Musk, McCarthy replied “no.” He ignored other issues as he headed into the House vote. Musk was not seen immediately leaving McCarthy’s office on the second floor of the Capitol.
Elon Musk later tweeted that he had met with House Speaker McCarthy and House Democratic Leader Hakeem Jeffries to “discuss how to make sure Twitter is fair to both parties.” It’s unclear where the meeting with Jeffries took place.
Elon Musk, a longtime McCarthy donor, also urged voters to vote Republican last year. He also attended a conference with McCarthy last year and recently tweeted his support for McCarthy for speaker.