Tesla (TSLA) PT Raised to $800 at Credit Suisse, on New Production Capacity Assumptions
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Credit Suisse analyst Dan Levy raised the price target on Tesla (NASDAQ: TSLA) to $800.00 (from $400.00) after building out his model to 2030. The new model includes expansion in Shanghai, and new facilities in Texas and Berlin, which should allow the company to exit 2021 with an installed capacity of 1.44mn units vs. 840k currently.
The analyst maintained a Neutral rating, stating "the added capacity underscores our forecast for 2021 deliveries of 853k vs. consensus 791k. While the Berlin launch will take longest, we believe this is highest priority – enabling Tesla to cut price and thus better capitalize on the Europe EV opportunity, which is ground zero for global EV inflection…similar to what it did in China in 2020, with a 30% cut in Model 3 price."
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Related EntitiesCredit Suisse, Tesla, Model 3
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