Tesla (TSLA) PT Raised to $1,200 at Canaccord Genuity

January 28, 2022 9:11 AM EST
Get Alerts TSLA Hot Sheet
Price: $761.61 +5.14%

Rating Summary:
    26 Buy, 20 Hold, 11 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 16 | New: 12
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Canaccord Genuity analyst Jed Dorsheimer raised the price target on Tesla (NASDAQ: TSLA) to $1,200.00 (from $1,040.00) while maintaining a Buy rating.

The analyst commented, "Post Tesla’s 4Q21, we are maintaining our BUY rating and adjusting our PT to $1,200, which is based on 35x our '24 Adj. EBITDA estimate of $38.8B (previously $1,040 based on 45x of $25.9B). We are bullish on the continued auto gross margin expansion, and we received a few positive bellwethers that cell supply is starting to open for our thesis on energy products. After reporting record delivery numbers a few weeks ago, a beat may have been priced in and shares could see a “buy the rumor, sell the news” type pullback. We would be buyers at these levels and if any pullback occurs."

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change

Related Entities

Tesla, Canaccord Genuity