• Tesla shares soared after the company reported third-quarter results on Wednesday evening.

• The company's forecast that vehicle deliveries will rise 20% to 30% next year caught the attention of Wall Street analysts.

• Tesla is “preparing for the next wave of growth,” Bank of America analysts said.

Tesla (TSLA) Shares are soaring a day after the company's third-quarter results, which Wedbush analysts called an “Aaron Judge-like performance.”

The company pointed to Tesla's forecast of a 20 to 30 percent increase in vehicle deliveries next year, “compared to current on-road numbers of 10 to 12 percent.” Maintaining his Outperform rating and $300 price target, Wedbush used the moment to compare Tesla to Judge – the slugger who put up mega numbers for baseball's New York Yankees this season.

However, not every analyst buys it. JPMorgan called the results a return to “exuberant forecasts” from Musk, “which may or may not be considered a forecast.” The company's own forecast is for 12% growth. JPMorgan maintained an Underweight rating but increased 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 earlier. This result beat analysts' estimates as margins rose from 17.9% to 19.8%.

Shares of Tesla rose around 20% to around $257 on Thursday afternoon.

Analysts at Bank of America pointed out a number of potential things to watch in 2025. In addition to higher delivery volume growth, Tesla expects to begin production of its semitrucks and cybercabs.

The company also announced that it plans to launch a public ride-hailing app in Texas and California. Management expects Tesla to be able to offer paid public ride-sharing services next year, the bank said.

“The bottom line is that Tesla is preparing for the next wave of growth,” the bank said.

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

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