Tesla: Wedbush sees potential to 1,500 dollars
(CercleFinance.com) - Wedbush is raising its target price for the Tesla share from 800 dollars to 1,000 dollars, with a new bull case now set at 1,500 dollars, up from 1,350 dollars previously.
The US broker says Tesla's stock has room to run further with demand for Model 3 exceeding expectations in China, along with the easing of lockdown measures in the US/Europe, and some potentially "game changing" battery developments on the horizon.
Wedbush also believes that the company's growth story on the "massive" Chinese market is worth at least 300 dollars per share, with EV penetration set to increase significantly over the next 12 to 18 months.
Even so, Wedbush keeps a "neutral" rating on the stock.
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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 US broker says Tesla's stock has room to run further with demand for Model 3 exceeding expectations in China, along with the easing of lockdown measures in the US/Europe, and some potentially "game changing" battery developments on the horizon.
Wedbush also believes that the company's growth story on the "massive" Chinese market is worth at least 300 dollars per share, with EV penetration set to increase significantly over the next 12 to 18 months.
Even so, Wedbush keeps a "neutral" rating on the stock.
Copyright (c) 2020 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.