Tesla: stock rises after Jefferies upgrade
(CercleFinance.com) - The Tesla share is up in New Year York on Monday after Jefferies upgraded the stock from "hold" to "buy".
The Tesla stock is currently up over 2% at about 714 dollars, while the Nasdaq is currently just underwater
(-0.1%) in early trading.
Note that Tesla has lost 19% of its stockmarket value over the past six months and that Jefferies seems to think that this correction represents an attractive buy opportunity for investors.
”Company has been capacity constrained for '21 and looking into '22, we see more global BEV demand, more battery and assembly capacity (+40% to 1.6m) and a broader and mix-accretive model line-up,” the broker says.
"Legacy OEMs progress on EV powertrain and line-ups, but Tesla continues to build or maintain multiple edges, notably in product complexity, inventories, direct selling and initiatives in selling subscription services,” it adds.
Jefferies has therefore raised its target price from 700 dollars to 850 dollars.
Copyright (c) 2021 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.