Tesla’s new $ 950 share price target in Vesush is the highest on Wall Street, but analysts still won’t say buy

Tesla Inc. received another sharp endorsement on Friday from Wesbush’s prolific analyst Dan Ives, who raised his stock price to 33%, but he would still not advise investors to buy the stock.

“Hearts and lungs” of investors’ bull thesis on Tesla TSLA, Ives said
Focused on China, as consumer demand skyrocketed in 2021, not only for Tesla’s Model 3s, but also “influential” domestic competitors such as Nio Inc. For electric vehicles from NIO,
Lee Auto Inc Light
And Xpeng Inc. XPEV,

He said that although competition is increasing, Tesla “remains atop the EV Mountains.” And given the globally “strong” demand for EVs, Ives now hopes to surpass Tesla’s 1 million delivery limit in 2022, and said deliveries start reaching 5 million a year by the end of the decade Can.

IVS wrote in a note to customers, “While 150+ auto manufacturers are aggressively following the EV opportunity globally, in the EV market right now, we believe this is Tesla’s world and everyone else fares. Giving. “

He raised his “base” price target to $ 950 for Tesla, which is $ 715 to 12.4% above Thursday’s closing price. His target is now the highest of 37 analysts surveyed by FactSet, and nearly twice the average target of $ 498.66.

Tesla’s stock gained 0.5% in primate trading. It fell 1.1% on Thursday, down 4.0% from January’s 8% to $ 880.02.

Joe Biden as president and a Democrat-controlled Congress should also provide a tailwind for the EV region, Ives said. “A Blue Senate is very fast and a potential ‘game changer’ for Tesla and the overall EV sector in the US, with the cards definitely having a more green-driven agenda over the next few years.”

Ives raised its “bull case” price target by 25% to $ 1,000 to $ 1,250.

However, he reiterated his neutral rating that he is on Tesla since April 2019. For Wesbusch, a neutral rating means that analysts expect a stock’s total return that corresponds to the average return of the analyst’s universe average. Ives is listed as Wesbusch’s enterprise software analyst, and other companies have covered them including Apple Inc. AAPL is included.
Uber Technologies Inc. UBER,
ZS and Zscaler Inc.,
+ 1.35%,
Which he performs better.

Tesla’s stock has gained 714.9% over the past 12 months through Thursday, while Apple shares have risen 65.6%, Uber has gained 62.6% and Zascar has gained 249.8%. At the same time, the S&P 500 Index SPX,
Has increased by 15.4%.


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