Tesla (TSLA) PT Raised to $560 at Wedbush, Bull Case Raised to $1000
- Wall St ends lower, pulled down by tech stocks
- AT&T (T) to Merge Media Assets with Discovery (DISCA) in Blockbuster Deal, Valuation Estimated at $150 Billion
- Bitcoin (BTC) Hits 3-Month Lows Before Bouncing as Musk Confirms Tesla Has Not Sold Any BTC
- Morgan Stanley Sees a Path for Amazon.com (AMZN) to Hit $6,000 In the Next 12 Months
- Core-Mark (CORE) Receives Takeover Approach from Performance Food Group (PFGC) - Source
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Wedbush analyst Daniel Ives raised the price target on Tesla (NASDAQ: TSLA) to $560.00 (from $500.00) while maintaining a Neutral rating. The analyst also raised his Bull Case to $1000 from $800 to reflect this steeper demand EV adoption curve over the next 18 to 24 months for Tesla with China and Europe the linchpins of growth.
"With the sustained path to profitability and S&P 500 index inclusion achieved, the Tesla bull story is now all about a stepped up EV demand trajectory into 2021," Ives commented. "Overall we are seeing a major inflection of EV demand globally with our expectations that EV vehicles ramp from ~3% of total auto sales today to 10% by 2025. We believe this demand dynamic will disproportionately benefit the clear EV category leader Tesla over the next few years especially in the key China region which we believe could represent ~40% of its EV deliveries by 2022 given the current brisk pace of sales with 150k+ deliveries in its first year out of the gates with Giga 3."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Michael Burry of 'The Big Short' Reveals $530 Million Bet Against Tesla (TSLA) - CNBC
- Tesla (TSLA) option implied volatility decreases
- SNC-Lavalin Group Inc. (SNC:CN) (SNCAF) PT Raised to Cdn$44 at Canaccord Genuity
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesStandard & Poor's, Tesla
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!