Canaccord raised the firm’s price target on Tesla to $254 from $222 and keeps a Buy rating on the shares. The company’s Q2 deliveries came in better than expected and emerging markets are starting to show a significant increase, the analyst tells investors in a research note. The firm says Tesla also had a “blockbuster quarter” for energy storage. The firms says that with new vehicle models beginning in 2025, and margins stabilization, Tesla should be past the worst quarterly trends, “at least for a while.” Stocks tend to follow revenue and earnings growth. it adds. Canaccord increased estimates on higher expectations around energy storage growth and margins.