Tesla: Wedbush raises target price
(CercleFinance.com) - Wedbush maintains its "outperform" rating on Tesla shares, increasing its target price for them raised to $225 (from $200), to reflect improving demand after the electric carmaker's price cuts in China.
"Based on our recent survey work in the field we believe the China EV reacceleration story for Tesla is just starting to hit its stride and should be a tailwind in 1Q," the broker says.
While the stock has suffered in recent months from the Twitter drama, the broker believes that the micro-blogging group is starting to stabilise and that "worries around Musk needing to sell more Tesla stock to fund Twitter losses has moved into the background".
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