Wedbush updates Tesla (TSLA) to beat it and joins the best options

April 4, 2021 9:27 PM EDT

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Wedbush analyst Daniel Ives upgraded Tesla (NASDAQ: TSLA) from Neutral to Outperform with a price target of $ 1,000.00 (of $ 950.00) with a long-term bullish case of $ 1,350 on the “Green Tidal Wave” thesis. . The analyst also added the shares to Wedbush’s Best Ideas list.

“In our opinion, the first quarter delivery figures released on Friday were a paradigm shift and show that pent-up global demand for the Tesla Model 3 / Y is reaching its next stage of growth as part of a green tsunami. global going, “commented Ives. . “We now believe that Tesla could surpass 850,000 deliveries for the year with 900,000 as a broad target, despite chip shortages and various supply chain problems that persist in the automotive sector. Tesla shares have been under significant pressure so far this year, we believe the tide is turning in the street and the ‘staggering’ delivery figures coming out of China cannot be ignored with the trajectory in pace to represent ~ 40 % of deliveries for Musk & Co. by 2022. We believe the profitability of the Tesla / FCF profile improves significantly over the next 3-4 years with potential annual EPS of $ 20 by 2026 based on our projections. “

For a summary of Tesla’s analyst ratings and ratings history, click here. For more news on Tesla ratings, click here.

Tesla shares closed yesterday at $ 667.93.

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