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Tesla: Wedbush sets new bull-case target at 1,250 dollars

( - Wedbush Securities raised its target price for Tesla from 715 dollars to 950 dollars on Friday, to reflect stronger EV demand forecasts.

The US broker also set a new "bull case" target price of 1,250 dollars, compared to 1,000 dollars previously.

In a note to clients, Wedbush said it has significantly raised its forecasts, now expecting that Tesla will pass the 1 million delivery threshold in 2022 and could start to approach 5 million units annually by the end of the decade if global EV demand continues to grow at this pace.

The forecast means that EVs, which make up 3% of global auto sales today, could reach 5% by the end of 2021 and 10% by 2025, it said.

Despite these bullish figures, Wedbush maintains a "neutral" rating on the stock.

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