Tesla (TSLA) China Numbers 'Robust' - Wedbush
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Wedbush analyst Daniel Ives reiterated an Outperform rating and $1,000.00 price target on Tesla (NASDAQ: TSLA) following "robust" China numbers.
Ives notes, for March, Tesla delivered 35.5k vehicles during the month which were roughly doubling from the month of February and appear to be on a strong trajectory into the rest of 2021 in the firm's opinion.
"Considering the Lunar New Year in China which took up a portion of February, we would characterize these March results (coupled by strong February) as quite impressive and highlights the underlying strength in Tesla's delivery numbers for 1Q announced last week," the analyst commented.
Ives believes from a run-rate perspective Tesla is on track to be on a 300k+ unit trajectory in China for the year which remains a linchpin for the company hitting its 850k+ annual numbers for the year.
Shares of Tesla closed at $683.80 yesterday.
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