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Tesla Gains as Wedbush Sees Stock at $1,400

Stock Markets Dec 28, 2021 06:48AM ET
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By Dhirendra Tripathi

Investing.com – Tesla stock (NASDAQ:TSLA) was up 1.4% in Tuesday’s premarket trading after a Wedbush analyst raised his target to $1,400, citing the clear pivot to electric vehicles and the company’s dominance of that as reasons for his optimism.

Analyst Daniel Ives’s target is 28% higher than the share’s previous closing price of $1,093.94. Ives earlier had a target of $1,100 for the stock.

According to reports, the analyst believes the stage is now set for the entire EV ecosystem to take a “significant step forward”. The higher customer adoption will accelerate the biggest transformation of the auto industry in 70 years, Ives wrote.

Ives believes Tesla’s successful tackle of the chip shortages, better than any other automaker, puts it in a position of strength heading into the new year. The analyst also has a bull case price target of $1,800 for the stock, assuming Tesla’s successful navigation of the Chinese market, the world’s largest market for EVs.

According to Ives, Tesla is now on an about 50,000 monthly run-rate for China in the fourth quarter that could ramp further early next year. He believes the chip shortage is a transitory issue.

Gigafactory openings in Austin and Berlin should solve the problem of demand exceeding supply, Ives said.

The analyst sees the automaker delivering between 1.4 million and 1.5 million vehicles in 2022 with an improving profitability. Tesla has delivered 6,27,572 units in the first nine months of the current financial year.

 

Tesla Gains as Wedbush Sees Stock at $1,400
 

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Comments (6)
Dec 29, 2021 6:55AM ET
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How accurate the news about Tesla Smartphone ?? Apple will be history if thats the case because Elon Musk is a complete genius of all time , remember he invented first digital bank !!
Roger LaPlante
Roger LaPlante Dec 28, 2021 4:23PM ET
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Thats a dream !!!
JAMES CUNHA
JAMES CUNHA Dec 28, 2021 7:40AM ET
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I would be cautious. it seems like every time wedbush upgrades on this company, bad news follows.
JAMES CUNHA
JAMES CUNHA Dec 28, 2021 7:38AM ET
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It appears that Wedbush keeps upgrading the stock price every week for no reason.
Robert Copeland
Robert Copeland Dec 28, 2021 7:37AM ET
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Wedbush has a lot of legal hurdles on the horizon. personally I wouldn't want to be holding there stock at this point in time and that's a bet.
Jay Bay
Jay Bay Dec 28, 2021 7:24AM ET
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Wedbush is a joke. They keep pumping up the Tesla stock no matter if it reached $2500..
Dec 28, 2021 7:24AM ET
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How accurate the news about Tesla Smartphone ?? Apple will be history if thats the case because Elon Musk is a complete genius of all time , remember he invented first digital bank !!Bro the $2500 is invitable , its gonna reach $3000 again
 
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