Tesla: Wedbush raises target price
(CercleFinance.com) - Wedbush reaffirms its 'outperform' rating on Tesla with a target price raised from $275 to $300, seeing a significant positive turnaround in demand for the automaker, with Q2 deliveries ahead of expectations.
With the majority of price cuts in the rear-view mirror and overall demand stabilizing, it believes Tesla's march towards the two million units sold per year trajectory should be achieved in the coming quarters.
The key for Tesla is for Wall Street to recognize it as the most undervalued AI card in our view, with a historic Robotaxi Day coming up on 8 August, which will lay a yellow brick road towards SDF and an autonomous future, the broker adds.
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The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
With the majority of price cuts in the rear-view mirror and overall demand stabilizing, it believes Tesla's march towards the two million units sold per year trajectory should be achieved in the coming quarters.
The key for Tesla is for Wall Street to recognize it as the most undervalued AI card in our view, with a historic Robotaxi Day coming up on 8 August, which will lay a yellow brick road towards SDF and an autonomous future, the broker adds.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.