Tesla (TSLA) PT Raised to 'Street High' $1,036 at Oppenheimer

Oppenheimer analyst Colin Rusch raised the price target on Tesla (NASDAQ: TSLA) to a 'Street High' $1,036.00 (from $486.00) while maintaining an Outperform rating.

The analyst comments "Given TSLA stock doubling again since November, we believe investors are grappling with where shares go from here. We believe bulls are betting on TSLA leading commercialization of autonomous vehicles technology. While we continue to have misgivings about risks related to TSLA not incorporating LiDAR into its vehicles yet, we believe the learning cycles enabled by having over 1M vehicles on the road is an extraordinary advantage. We continue to believe best practices in vehicle safety point to 6B test miles being necessary to validate L4+L5 ADAS. Assuming 12K miles driven/year per car, TSLA’s shadow mode data collection can reach that threshold in ~six months, years faster than competitors. This dynamic plus equity market multiple appreciation drive our PT increase to $1,036."

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