Tesla: a key week
(CercleFinance.com) - The Tesla share consolidated slightly on Friday on the Nasdaq, after a week which should however see the share of the manufacturer of electric vehicles rise by over 8%, with the stock having reached new highs on the stockmarket.
Tesla broke a valuation record yesterday at 498.8 dollars, albeit failing to break the psychological threshold of 500 dollars.
However, its market cap is now close to 95 billion dollars, i.e. 10 billion dollars more than the cumulative value of GM (48 billion dollars) and Ford (37 billion dollars).
Even the most cautious analysts on the share, such as Credit Suisse, which maintains its "underperform" rating on the share, are beginning to be more optimistic about the Californian group.
Their analysts have raised their target price for the share this week to 340 dollars, while even mentioning a potential target price of 700 dollars in a blue-sky scenario.
This opinion is shared by Wedbush Securities, whose "neutral" rating and limited target price of 370 euros actually hide a much more favourable view of the share.
"In our opinion, the bull case scenario on the stock remains $600 as we believe Tesla's ability to ramp production and demand in the key China region during the course of 2020 will be a major swing factor on the stock," their analysts summarise.
The Tesla stock, which trades on the Nasdaq, is currently down 0.1% at 480.9 dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Tesla broke a valuation record yesterday at 498.8 dollars, albeit failing to break the psychological threshold of 500 dollars.
However, its market cap is now close to 95 billion dollars, i.e. 10 billion dollars more than the cumulative value of GM (48 billion dollars) and Ford (37 billion dollars).
Even the most cautious analysts on the share, such as Credit Suisse, which maintains its "underperform" rating on the share, are beginning to be more optimistic about the Californian group.
Their analysts have raised their target price for the share this week to 340 dollars, while even mentioning a potential target price of 700 dollars in a blue-sky scenario.
This opinion is shared by Wedbush Securities, whose "neutral" rating and limited target price of 370 euros actually hide a much more favourable view of the share.
"In our opinion, the bull case scenario on the stock remains $600 as we believe Tesla's ability to ramp production and demand in the key China region during the course of 2020 will be a major swing factor on the stock," their analysts summarise.
The Tesla stock, which trades on the Nasdaq, is currently down 0.1% at 480.9 dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.