UPDATE: KGI Securities Starts Tesla (TSLA) at Outperform

August 2, 2021 9:30 AM EDT
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Price: $759.49 +0.33%

Rating Summary:
    24 Buy, 21 Hold, 11 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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(Updated - August 2, 2021 10:42 AM EDT)

KGI Securities analyst Jennifer Liang initiates coverage on Tesla (NASDAQ: TSLA) with an Outperform rating and $855 price target, suggesting 24% upside.

The analyst commented, "Tesla will continue to stay ahead of the pack in the midterm; opportunities thrive for those with unique business models and strong competitiveness. We expect Tesla (TSLA US, US$687.20, OP) to maintain its leading position in the global EV space for at least the next 3-5 years. Tesla demonstrates technological superiority and continued dedication to enhancing its EV offerings on all fronts, including software and hardware, namely: (1) advanced Autopilot and full self-driving (FSD) features; (2) the ability for over-the-air (OTA) updates; (3) in-house design of software and electronic architecture, enabling the firm to introduce innovations faster than rivals; (4) a self-developed new 4680 battery cell architecture and unibody castings; and (5) a wide Supercharger network build-up worldwide. Nevertheless, we do not foresee market dominance for Tesla as traditional OEMs, EV start-ups, and global tech giants will seize the massive market potential and increase their competitiveness, brand awareness, software strength, and unique business models. Nio (NIO US, US$44.68, NR), for example, has a strong presence in China and its success is partially built on its battery-as-a-service (BAAS) approach."

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $687.20 yesterday.


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