Tesla: New Street Research raises target price
(CercleFinance.com) - On Tuesday an analyst at New Street Research has raised his target price for the Tesla share, appreciating both the group's past performance and its outlook.
"Over the past 1.5 years several key dimensions of our thesis (technological dominance, strong sustained demand, Tesla's ability to execute) played out in line with our expectations. We did not anticipate the decline in Model S&X deliveries last year, as Model 3 ramped, but this has limited implications for our long-term perspective," the broker hails.
Maintaining a Buy rating on the stock, New Street Research has set its net target price at 800 dollars (impressive upside of nearly 57%).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
"Over the past 1.5 years several key dimensions of our thesis (technological dominance, strong sustained demand, Tesla's ability to execute) played out in line with our expectations. We did not anticipate the decline in Model S&X deliveries last year, as Model 3 ramped, but this has limited implications for our long-term perspective," the broker hails.
Maintaining a Buy rating on the stock, New Street Research has set its net target price at 800 dollars (impressive upside of nearly 57%).
Copyright (c) 2020 CercleFinance.com. All rights reserved.