Photo from Tesla (TSLA) Delivery Hub Shows Long Lines, Justifies $4000 Price Target - Chowdhry

January 2, 2020 8:50 AM EST
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Global Equities Research analyst Trip Chowdhry, who just set a decade-end price target on Tesla (NASDAQ: TSLA) of $4,000, said this one picture from his Dec. 31 factory and delivery hub check is enough to send the stock to his target.

Chowdhry said the photo illustrates heavy customer demand for Tesla's, which he said is an even bigger phenomenon than Apple's iPhone. "Have you ever seen customers lining up to buy Cars?", Chowdhry rhetorically asks.

During his Dec. 31 visit, the analyst noted the company delivered at least 1,000 vehicles. He said about "75% were TSLA Model 3 Dual Motor Long Range (~$50K), and the remaining 25% were Model 3 Performance (~$60K), Model S (~$85K), Model X (~$85K)" He said only a handful were Standard Range Plus (~$40K).

Chowdhry noted that CEO Elon Musk was there with his Mom for almost the whole day.

The analyst said it is clear Tesla is taking customers away from Toyota, Honda, BMW, Mercedes, and Porsche.

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