Jefferies analyst Philippe Houchois says Tesla (TSLA) “delivered its most interesting earnings call in many quarters,” adding that the company’s outlook was “vague and low in numbers,” except a “whopping” $20B in capex guided for 2026. Funding may become a topic despite a $44B cash pile, according to the analyst, who adds that the announced investment in xAI suggests “meeting supercompensation targets may rely on Musk-related corporate deals.” The firm has a Hold rating and $300 price target on Tesla shares.
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