Connect with us

Published

on

Tesla’s stock (TSLA) is on the rise this week as KGI Securities is initiating coverage of the electric vehicle company and giving it a high price target for its “technological superiority.”

KGI Securities, a Taiwan-based financial company, has been known for its Apple coverage due to their frequent unique insights based on leaks.

Now the company is initiating coverage on Tesla with an “Outperform” rating and a $855 price target, which represents a significant upside over today’s price.

In a note to clients, KGI Securities analyst Jennifer Liang wrote that she believes that the electric automaker currently has “technological superiority” over the competition and several key advantages:

“Tesla will continue to stay ahead of the pack in the midterm; opportunities thrive for those with unique business models and strong competitiveness. We expect Tesla (TSLA US) to maintain its leading position in the global EV space for at least the next 3-5 years. Tesla demonstrates technological superiority and continued dedication to enhancing its EV offerings on all fronts, including software and hardware, namely: (1) advanced Autopilot and full self-driving (FSD) features; (2) the ability for over-the-air (OTA) updates; (3) in-house design of software and electronic architecture, enabling the firm to introduce innovations faster than rivals; (4) a self-developed new 4680 battery cell architecture and unibody castings; and (5) a wide Supercharger network build-up worldwide.”

However, the firm warns that Tesla’s market dominance will dimish over time as more competition enters the space.

Liang wrote:

“Nevertheless, we do not foresee market dominance for Tesla as traditional OEMs, EV start-ups, and global tech giants will seize the massive market potential and increase their competitiveness, brand awareness, software strength, and unique business models. Nio (NIO US, US$44.68, NR), for example, has a strong presence in China and its success is partially built on its battery-as-a-service (BAAS) approach.”

According to TipRank, there are now 23 Wall Street analysts who have updated their 12-month price targets for Tesla in the last three months.

The average price target is $746.91 with a high forecast of $1,200 and a low forecast of $160. Most analysts are rating Tesla’s stock as the equivalent of a “buy.”


Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.

Continue Reading

Entertainment

Bernard Hill: Lord Of The Rings and Titanic actor dies aged 79

Published

on

By

Bernard Hill: Lord Of The Rings and Titanic actor dies aged 79

Actor Bernard Hill, who played roles in Lord Of The Rings and Titanic, has died aged 79, his agent has confirmed.

Hill also featured as Yosser Hughes in the iconic drama series Boys In The Blackstuff.

He was given a number of awards for his role as King Theoden in the Lord of the Rings trilogy and played Captain Edward Smith in the 1997 Oscar-winning film Titanic.

The actor was born in Blackley, Manchester, in 1944 and graduated with a diploma in theatre in 1970.

He was married to fellow actor Marianna Hill, with whom he shared a son. His agent Lou Coulson said he died in the early hours of Sunday.

Hill will return to TV on Sunday night starring in the second series of Martin Freeman’s The Responder.

Fans have already started to pay tribute to him on social media.

Scottish musician Barbara Dickson wrote of their time working together: “It’s with great sadness that I note the death of Bernard Hill. We worked together in John Paul George Ringo and Bert, Willy Russell marvellous show 1974-1975.

“A really marvellous actor. It was a privilege to have crossed paths with him. RIP Benny x.”

At a London premiere in 2005. Pic: PA
Image:
In London in 2005. Pic: PA

This breaking news story is being updated and more details will be published shortly.

Please refresh the page for the fullest version.

You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow @SkyNews on X or subscribe to our YouTube channel to keep up with the latest news.

Continue Reading

Entertainment

Madonna plays biggest-ever show to 1.6 million fans on Rio’s Copacabana beach

Published

on

By

Madonna plays biggest-ever show to 1.6 million fans on Rio's Copacabana beach

Madonna has played her biggest-ever gig to an estimated 1.6 million people on Copacabana beach in Rio de Janeiro.

It was the last show in her Celebration tour and she performed hits such Like A Prayer, Vogue, Hung Up, Into The Groove and Like A Virgin.

The Brazil city was buzzing ahead of Saturday’s free two-hour show, with hotels and Airbnb’s packed and about 170 extra flights expected into the city.

Pic: Reuters
Image:
Pic: Reuters

The famous Rio beach was packed with fans. Pic: AP
Image:
The famous Rio beach was packed with fans. Pic: AP

Helicopters and drones buzzed over the beach as the Queen of Pop took to the stage at 10:37pm, nearly 50 minutes late.

“Here we are in the most beautiful place in the world,” Madonna told the crowd as she pointed out Rio’s famous mountains and Christ the Redeemer statue.

The 65-year-old opened up with Nothing Really Matters from 1998’s Ray of Light album.

Eighteen speaker towers were dotted along the beach to ensure everyone could hear the US star’s vocals.

Brazilian musicians and people from local samba schools were involved in the show – with many fans dressing up in Madonna-themed outfits.

Pic: AP
Image:
Pic: AP

Pic: Reuters
Image:
Pic: Reuters

“Since Madonna arrived here, I’ve been coming every day with this outfit to welcome my idol, my diva, my pop queen,” said Rosemary de Oliveira Bohrer, 69, who wore a version of Madonna’s iconic gold cone bra.

Many fans had staked out a spot many hours – or even days – before the show, while others took in the spectacle from yachts or apartment balconies.

Madonna’s website said it was the biggest she had ever done – more than 10 times the 130,000 she played to in Paris in 1987.

However, Rio is used to huge shows – The Rolling Stones and Rod Stewart have played to similar-size crowds there.

Pic: AP
Image:
Pic: AP

Pic: Reuters
Image:
Pic: Reuters

Read more from Sky News:
Flight nightmare causes Murs to cancel gig with Take That
Is now a golden age for original musicals on the West End?

Thousands of police were on duty for Saturday’s show, which city authorities estimated drew a crowd of 1.6 million and would earn the local economy about 293 million reals (£46m).

Follow Sky News on WhatsApp
Follow Sky News on WhatsApp

Keep up with all the latest news from the UK and around the world by following Sky News

Tap here

For Madonna, it was the culmination of an 81-date retrospective tour that began in London in October and moved across Europe and North and South America.

The singer embarked upon the tour a few months after being admitted to intensive care with a serious bacterial inaction in June 2023.

Continue Reading

Entertainment

Olly Alexander addresses ‘extreme’ remarks from fans on Israel’s Eurovision inclusion

Published

on

By

Olly Alexander addresses 'extreme' remarks from fans on Israel's Eurovision inclusion

The UK’s Eurovision Song Contest representative has addressed “extreme” remarks from fans over Israel’s inclusion in the competition.

Olly Alexander was selected as this year’s representative for the UK for the popular singing competition.

It’s set to take place in Malmo, Sweden, next week but tens of thousands are expected to protest Israel’s involvement and its ongoing war in Gaza.

Alexander, the Years & Years singer, has found himself facing criticism from some who called for him to withdraw amid the ongoing war between Israel and Hamas.

Queers for Palestine circulated a letter, signed by thousands including actors Indya Moore, Brigette Lundy-Paine, and Maxine Peake calling for the It’s A Sin actor to pull out of the show.

In March, along with Irish hopeful Bambie Thug, Danish entrant Saba and other Eurovision artists, Alexander released a joint statement, backing “an immediate and lasting ceasefire” but refusing to boycott the event.

Now, speaking out in a new documentary which has followed the 33-year-old as he prepares for the show, he has described some of the comments he and other participants have faced as “very extreme”.

More on Eurovision

Bambie Thug, the Irish entrant in the 2024 Eurovision Song Contest. Pic: Pa
Image:
Bambie Thug, the Irish entrant, also signed a statement backing a ceasefire, but is refusing to boycott the event. Pic: PA

He said: “A lot of the contestants and myself have been having a lot of comments that are like ‘You are complicit in a genocide by taking part in Eurovision’ which is quite extreme. It’s very extreme.

“I understand where that sentiment is coming from but I think it’s not correct.

“It’s an incredibly complicated political situation, one that I’m not qualified to speak on.

“The backdrop to this is actual immense suffering. It’s a humanitarian crisis, a war.

“It just so happens there’s a song contest going on at the same time that I’m a part of.”

Speaking in the BBC’s documentary titled Olly Alexander’s Road To Eurovision ’24, he continued saying that people should boycott Eurovision if they didn’t feel comfortable watching and he respected their decision – but would be taking part himself.

He added: “My plan is to just focus on putting on a good performance in Malmo.

“My team, everyone’s worked so hard, and we’re in the final stretch now.”

Follow Sky News on WhatsApp
Follow Sky News on WhatsApp

Keep up with all the latest news from the UK and around the world by following Sky News

Tap here

Read more from Sky News:
Progress reported in Gaza ceasefire talks
Man charged over 1966 murder after DNA breakthrough
About 31,000 homes without water

Earlier in the week, Alexander broke down crying during an interview with The Times when discussing the pressure he had come under for participating in Eurovision.

He told the paper he knew a number of signatories of the petition against him, and none had reached out to him.

He said: “This is so much bigger than me and Eurovision, it really is. But, obviously, I wish there wasn’t a war or this insane humanitarian crisis.

“I wish for peace and I have found this experience, at times, extremely … I’ve just felt really sad and distressed.”

Olly Alexander. Pic: PA
Image:
Pic: PA

Speaking on Sky’s Sunday Morning with Trevor Phillips, deputy director general of the European Broadcasting Union who organises Eurovision, Jean Philip De Tender, defended Israel’s inclusion in the competition.

He said: “We do understand the concerns and deeply held views around the war in the Middle East.

“The song contest is a music event organised and co-produced by 37 public broadcasters, it’s not a competition between nations or governments.

“Our governing bodies reviewed the participation of Kan [Israel’s public broadcasting corporation] and found that they met all of the competing rules.”

Phillips pointed out incidences when Kan came under fire for their broadcasting.

This included, he said, when Kan published a video of children singing, in the public broadcaster’s own words, for the “annihilation of Gaza” and when one of their presenters was seen writing “I want to send the people of Gaza artillery shells”.

Mr De Tender said they had been in contact with Kan about the content they published and their editorial output, and had expressed concern on occasion.

He added that Eurovision had competition rules which they had to follow, and taking action beyond these rules to exclude Kan would have been a “political decision as such which we cannot take”.

Continue Reading

Trending