Tesla (TSLA) PT Raised to 'Street High' $900 at BofA Securities

January 11, 2021 5:54 AM EST
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Price: $709.74 --0%

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(Updated - January 11, 2021 7:25 AM EST)

BofA Securities analyst John Murphy raised the price target on Tesla (NASDAQ: TSLA) to a "Street High" $900.00 (from $500.00) while maintaining a Neutral rating.

While Murphy believes Tesla can be successful as demand for EVs increases, the analyst said the company faces several hurdles, including: "(1) ongoing/future production challenges; (2) spike/ burnout pattern for new models; (3) continued losses/cash burn from low production/deliveries, elevated cost, and new facility construction; and (4) the prospect of new competition and technology/model obsolescence."

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