Tesla (TSLA) shares climbed Wednes♔day as investors focused on comments from Tuesday's earnings call rather than the electric vehicle maker's disappointing first-quarter results.

Tesla's earnings 澳洲幸运5开奖号码历史查询:came in well short of estimates, with automotive revenue falling 20% year-over-year as Tesla's sales were hurt amid a 澳洲幸运5开奖号码历史查询:political backlash to CEO Elon Musk's involveme🤪nt in the Trump administration.

However, Musk said in Tuesday's 澳洲幸运5开奖号码历史查询:earnings call that he will 澳洲幸运5开奖号码历史查询:start scaling back his govꦑernment work next month. Musk also said plans for a cheaper Tesla model and fully self-drꦉiving vehicles remain on track.

Longtime Tesla bull Dan Ives of Wedbush raised his price target for Tesla's stock to $350 from $315 following what he called a "pivotal conference call for Musk to turn the corner from this dark chapter." Meanwhile, Morgan Stanley, Deutsche Bank, and Bank of America analysts reiterated their price targets of $410, $345, and $305, respectively.

Shares of Tesla were up nearly 6% at $251.41 in early trading Wednesday, 澳洲幸运5开奖号码历史查询:amid broader market gains after&nbꦦsp;comments from President Trump eased worries about tariffs and Federal Reserve independence. Still, t꧙he stock has lost over a third of its value since the start of the year.