Tesla (TSLA) PT Raised to Street High $1,580 at New Street Research on 'Multiple Strong Catalysts'

December 8, 2021 8:00 AM EST
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Price: $1,049.61 --0%

Rating Summary:
    25 Buy, 21 Hold, 12 Sell

Rating Trend: Down Down

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    Up: 0 | Down: 0 | New: 1
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(Updated - December 8, 2021 8:05 AM EST)

New Street Research analyst Pierre Ferragu raised the price target on Tesla (NASDAQ: TSLA) to Street High $1,580.00 (from $1,298.00) while maintaining a Buy rating, citing multiple strong catalysts.

The analyst comments "Continued ramp despite supply challenges. Through great efforts of sourcing teams, Tesla has been able to continue to ramp production despite chip shortages. Visibility nevertheless remains very limited (one month at a time). Supply will be the limiting factor in 2022, not manufacturing capacity. The ramp will continue if the situation begins to improve, but continued supply constraints could slow it down. Stock may look through temporary issues, as it would be supported by price and margin expansion. We would expect the market to understand the temporary nature of the supply constrains."

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