Tesla: Wedbush Securities raises 'bull case' target
(CercleFinance.com) - Wedbush Securities announced on Monday that it has set a new target price of 3,500 dollars for the Tesla stock, vs.
2,500 dollars to date, in anticipation of a bull case scenario for the share.
The US broker - which maintains its "neutral" rating and its base target price of 1,900 dollars for the share - justifies its optimism by the Californian upmarket electical car maker's promises of growth in China.
"We believe that the China growth story is worth at least $400 per share in a bull case to Tesla as this EV penetration is set to ramp significantly over the next ,12 to 18 months, along with major battery innovations coming out of Giga 3" Wedbush says.
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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.
2,500 dollars to date, in anticipation of a bull case scenario for the share.
The US broker - which maintains its "neutral" rating and its base target price of 1,900 dollars for the share - justifies its optimism by the Californian upmarket electical car maker's promises of growth in China.
"We believe that the China growth story is worth at least $400 per share in a bull case to Tesla as this EV penetration is set to ramp significantly over the next ,12 to 18 months, along with major battery innovations coming out of Giga 3" Wedbush says.
Copyright (c) 2020 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.