Tesla stock outperform rating raising price target to $350 from $310 - Wedbush
$Tesla (TSLA.US)$ Tesla Inc. is poised to join the trillion-dollar club next year, defying growing Wall Street skepticism regarding electric vehicle demand, according to Wedbush analyst Dan Ives.
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Ives reiterated the outperform rating he’s had on the stock for years, raising his 12-month price target to $350 from $310. The new target implies a market capitalization of $1.11 trillion at current share counts.
The longtime bull on Tesla TSLA said the bear case on the company was that demand was eroding at a time when competition around the world was increasing. “Instead, Musk made a poker move for the ages and cut prices globally with China front and center to catalyze volumes/units which should now impressively be in the 1.8 million range for 2023,” the prolific analyst wrote in a note to clients.
The longtime bull on Tesla TSLA said the bear case on the company was that demand was eroding at a time when competition around the world was increasing. “Instead, Musk made a poker move for the ages and cut prices globally with China front and center to catalyze volumes/units which should now impressively be in the 1.8 million range for 2023,” the prolific analyst wrote in a note to clients.
Tesla is now doubling down with Cybertruck and we expect another sub $30k vehicle to be announced over the next 6 to 9 months.”
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$BYD COMPANY (01211.HK)$ $BYD Co. (BYDDF.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $VOLKSWAGEN A G (VWAGY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $General Motors (GM.US)$ $Ford Motor (F.US)$ $Rivian Automotive (RIVN.US)$ $MERCEDES-BENZ GROUP AG (MBGAF.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $GEELY AUTO (00175.HK)$ $Stellantis NV (STLA.US)$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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Silverbat : It should be more than 350 when moon base established.