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

(CercleFinance.com) - 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.

Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.