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Tesla, Aleady Soaring, Could Reach $1,200 a Share: Analyst

Published 02/01/2021, 11:18 AM
Updated 02/01/2021, 11:33 AM
© Reuters.

By Liz Moyer

Investing.com -- Tesla Inc (NASDAQ:TSLA)stock is up 500% in the last year, but it could rise another 50% this year, according to Piper Sandler (NYSE:PIPR)'s Alexander Potter.

"The fireworks aren't over," the analyst said in a 100-page note on Monday, saying Tesla could reach $1,200, a Street-high price target. Needless to say, he maintained his overweight rating on the stock. Tesla traded up 3%.

"While it is more exhaustive than anything we have published to date, even our expanded model does not capture all potential revenue streams. Indeed, with Tesla's target industries still embracing outdated business models, it may be decades before this company runs out of new opportunities to pursue," the analyst said in the note, according to StreetInsider.

Telsa joined the S&P 500 last year. Potter says he sees the electric vehicle maker on track to deliver 9 million vehicles by 2030.

Latest comments

While the carbon fueled automobiles currently dominating the world market,Tesla and few other Chinese seems to be dominating the small EV market. Whats gonna be the market shares of Tesla and others when the good old German, American, French automobile companies begin mass producing and selling EV cars. Not to mention gazillion new EV start ups all over the world. I think Tesla is overvalued.
Agree. Where the company currently stands its definitely overvalued. What investors are hoping is pricing the future gains of innovation that ice cars are years behind. It goes both ways. EV companies and ICE company will both have to execute well the next 10 years of they want to stay relevant. When you factor autonomous full self driving, energy and battery technology, taxi network, having every car class (luxury sedan, suv, mid-size sedan, semitruck, pickup truck, coupe, possible 25k car). There such a wide moat that old car companies don't have. Its gambling but its a bet others feel like taking. Either is will succeed like Google and Amazon or crash and burn like DeLorean.
crazily overvalued
okay then short it
Value investors are missing from the scene sadly.
don't trust analyst.
100% agree. Here is an article you may want to check out.... https://www.marketwatch.com/story/why-you-cant-trust-wall-street-analysts-2018-05-08
How good or bad are analists that give a $100 target 12 months ago and now a $1200 wothout significant company news?
You missed the news. You should listen to their Q4 earnings call or look it up on youtube.
Only profitable selling government issued CREDITs lol socialist company. They will be destroyed with inflation and commodities like silver rising too.
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