How high can Tesla shares fly? Try $ 3,500, the boom analyst says


A rapid start to the week is on tap, driven by hopes of reducing US-China tensions and signs US President Donald Trump will try to fast-track certain coronovirus treatments.
Hopes are also building that markets will find support in the central bank’s Jackson Hole, Wyoming on Thursday, in support of Federal Reserve Chairman Jerome Powell.

Nasdaq Composite is set to lead the gains on Monday.
Comp,
+ 0.41%,
Which closed several records last week and is a center of concern for some investors. That is, the stock market rally is being driven by only a few big names, such as the iPhone-maker Apple AAPL,
+ 5.15%
And electric-car manufacturer Tesla TSLA,
+ 2.40%.
There are some anxious gains for Highfeller, drawing a very optimistic picture of a market and economy in the grip of an epidemic.
Shares of Elon Musk’s company actually busted $ 2,000 a share last week. That brings us to us Phone of the day One of Wall Street’s biggest fans of Tesla, which says its newest case for stock is $ 3,500.

A team of Wesbush analysts led by Dan Ives says, “Demand growth in China EV [electric vehicle] The market for the Model 3 and recent price cuts are creating a ‘perfect storm of demand’ for Tesla.
“We believe that China’s growth rate in the Tesla to Bull case is at least as high as $ 400 per share as this EVA penetration is set to ramp up significantly over the next 12 to 18 months, as well as a major exiting Giga 3 There are also battery innovations. ” Ives told customers in the note on Sunday. Giga 3 mentions Gigafactory 3, Tesla’s Shanghai factory.
“With China’s growth story, Tesla can now earn up to $ 20 + 2025/2026, according to our pre-estimate of $ 20- $ 25 and thus we are now able to reflect the dynamic of our bull case Raising the target to $ 3,500. Added Ives, which holds a neutral rating on the company.
Tesla’s most recent rally had announced a 5 to 1 stock split, holding up to 390%. The shares are further up 2.8% in the open.

market

Dow YM00,
+ 1.02%,
S&P ES00,
+ 0.90%
And Nasdaq NQ00,
+ 1.09%
Futures prices are rising, while European stocks SXPP,
+ 1.86%
Recently increased profits. Markets in Asia also climbed. Oil CL00,
+ 1.03%
The twins are heading to the Gulf Coast of the US as a storm, where refineries are ready to storm.

Chart
The buzz

700 shares of Tencent,
+ 5.79%
The Trump administration told Apple and Google’s parent Alphabet GOOGL that a report has increased in Asia,
-0.04%
They will not block access to China technology company’s WeChat messaging app outside the US
Trump on Sunday announced an emergency authorization to treat COVID-19 patients with convulsive plasma, with reports suggesting he could fast-track AstraZeneca AZN,
-1.38%
Vaccination. Meanwhile, a CBS poll found that the majority of Republicans believe 176,000 deaths from COVID-19 are acceptable. According to the latest Johns Hopkins University, global deaths are over 800,000. And German scientists staged a live concert to test the spread of the virus
Tech giant Microsoft MSFT,
-0.72%
Threats to cancel the developer account of rival Apple’s Fortnite creator Epic Games could harm the videogame industry.
North Korean dictator Kim Jong-un is reportedly in a coma.

Random reads

The most uplifting Disney song ever? “Minimum Requirements.”
Trump’s top advisor is Kellyanne Conway
Get down.
The need to know starts early and is updated until the opening bell, but Register here To deliver it once in your email box. Be sure to check the item requirement. The emailed version will be sent around 7:30 pm Eastern.
Follow on MarketWatch
Twitter, Instagram, Facebook.

.

Leave a Reply

Your email address will not be published.