New Street Research Upgrades Tesla (TSLA) to Buy, '2 years of earnings momentum ahead'
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Price: $170.18 +4.97%
Rating Summary:
23 Buy, 27 Hold, 13 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
23 Buy, 27 Hold, 13 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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(Updated - March 9, 2021 8:11 AM EST)
New Street Research analyst Pierre Ferragu upgraded Tesla (NASDAQ: TSLA) to Buy with a price target of $900.00.
- 2 years of earnings momentum ahead.
- Says demand outlook is stronger than supply could ever be.
- Says competition remains a non-issue in foreseeable future.
- Says Risks of delays do exist but they ought to not prevent TSLA from achieving 2 million capacity by end of 2022 and 4x deliveries in 3 years.
- Sees EPS of $12 in 2023, or 50% above consensus.
- Expects the stock to remain in upper end of 50-100x earnings range, similar to where Amazon traded for nearly a decade.
For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.
Shares of Tesla closed at $591.28 yesterday.
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