New Street Research Upgrades Tesla (TSLA) to Buy, '2 years of earnings momentum ahead'

(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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