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Technology Stocks : Tesla EVs - TSLA
TSLA 675.50-1.0%Feb 26 4:00 PM EST

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From: kidl11/23/2020 8:53:05 AM
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Tesla gains after Wedbush points to major inflection of global EV demand

Nov. 23, 2020 6:57 AM ET Tesla, Inc. (TSLA) By: Clark Schultz, SA News Editor 32 Comments
  • Wedbush Securities is increasingly confident strong global electric demand will benefit Tesla (NASDAQ: TSLA).
  • "With the sustained path to profitability and S&P 500 index inclusion achieved, the Tesla bull story is now all about a stepped up EV demand trajectory into 2021. Overall we are seeing a major inflection of EV demand globally with our expectations that EV vehicles ramp from ~3% of total auto sales today to 10% by 2025," writes analyst Dan Ives.
  • Ives and team think the demand dynamic will disproportionately benefit Tesla over the next few years, especially in the key China region, which they forecast could represent ~40% of its EV deliveries by 2022 given the current brisk pace of sales with +150K deliveries in its first year out of the gates with Giga 3.
  • China and Europe EV demand are expected to remain EV hot spots for Tesla into 2021.
  • The Wedbush bull case price target on Tesla goes to $1,000, and the base case price target is hiked to $560. The average Wall Street PT on Tesla is $385.13.
  • Shares of Tesla are up 2% premarket.
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