Tesla stock gets a new Wall Street-high $950 value target
Tesla’s stock has been on a tear of late – arriving at all-time highs on a few events throughout the most recent couple of weeks. It is pushing the automaker’s valuation over $800 million.
Presently numerous experts are playing catch-up and refreshing their valuation models for the automaker and delivering new value targets.
Wedbush analyst Dan Ives is out with another note to customers today declaring a price target increment from Tesla from $715 to $950.
The price increase depends on Ives seeing Tesla convey 1 million vehicles in 2022 and up to 5 million vehicles for each year before the decade’s over.
The analyst quoted that:
While there are 150+ automakers aggressively going after the EV opportunity globally, right now in the EV market we believe it’s Tesla’s world and everyone else is paying rent. However, competition will be fierce within EV battery technology (GM and Nio in particular stand out) as this represents the key differentiator over time and remains a major focus area for Musk & Co. to maintain its formidable leadership position in the EV market.
Ives is one of the top Wall Street analysts as per Tip Ranks, an analyst ranking firm.
The Wedbush analyst positioned #31 out of 7,223 analysts on TipRanks with a 77% success rate and a 35% average return.
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