Key Takeaways

• Tesla shares skyrocketed after the company reported third-quarter earnings Wednesday evening.

• The company's prediction of 20% to 30% vehicle delivery growth next year caught the attention of Wall Street analysts.

• Tesla is "is charging up for the next wave of growth,” Bank of America analysts said.

Tesla (TSLA) shares are roaring higher a day after the company’s third quarter results, which analysts at Wedbush called an “Aaron Judge-like performance.”

The firm noted Tesla’s prediction of 20% to 30% vehicle delivery growth next year, “compared to Street numbers in the 10%-12% heading into the print.” Wedbush maintained its Outperform rating and $300 price target, using the moment to liken Tesla to Judge—the slugger who put up mega-numbers for baseball's New York Yankees this season.

Not every analyst is buying it, though. JPMorgan called the results a return to "ebullient forecasts" from Musk, "which may or may not qualify as guidance." The firm's own outlook is 12% growth. JPMorgan maintained its Underweight rating but upped its price target to $135 from $130.

The electric vehicle maker posted third-quarter net income of $2.17 billion or 62 cents per share, up from $1.85 billion or 53 cents per share a year ago. That result topped analysts' estimates as margins rose to 19.8% from 17.9%.

Shares of Tesla jumped some 20% to around $257 as of Thursday afternoon.

Tesla ‘Charging Up’ for 2025

Bank of America analysts pointed to a number of potential items to watch in 2025. In addition to higher delivery volume growth, Tesla said it expects to begin production on its Semitruck and Cybercab.

The company also indicated it plans to launch a public ride-hailing app in Texas and California, with management expecting Tesla to be able to provide paid public rides next year, the bank noted.

“The bottom-line was that Tesla is charging up for the next wave of growth,” the bank said.

Bank of America raised its price target for Tesla to $265 from $255 and maintained its Buy rating.

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