Tesla (TSLA) PT Raised to 'Street High' $1,500 at JMP Securities; Positioned to Become $100B Company

(Updated - July 6, 2020 6:10 AM EDT)

(updated to add analyst comments)

JMP Securities analyst Joseph Osha raised the price target on Tesla (NASDAQ: TSLA) to 'Street High' $1,500.00 (from $1,050.00) while maintaining a Market Outperform rating.

The analyst commented, "TSLA delivered significant upside to our estimates and the consensus outlook for 2Q20 deliveries, reporting a total of 90,650 units as compared to our estimate of 73,800 and the consensus figure of 70,300. All of the upside appears to have come from Model 3 and Model Y deliveries, which the company reports jointly. We reiterate our Market Outperform rating and raise our price target to $1,500 (from $1,050). Our target is now based on our belief that TSLA is positioned to become a $100bn company with 20% EBITDA margins by 2025, with that outcome discounted back to the present."

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