With all respect, you need to do some serious reading. Over Christmas would be a good start, assuming you've got any spare time from the horse n cart trips.
Tesla Inc (NASDAQ:TSLA) will hit the $1 trillion market cap threshold in 2024, and analysts at Wedbush argued in a note to clients Thursday.
The firm raised its price target to $350 from $310 and reiterated its outperform rating for Tesla. Shares of the electric car maker rose 0.6% Friday afternoon to $255.94.
Wedbush lauded the company’s decision to cut prices this year.
“The Street bear narrative for Tesla heading into 2023 was demand was eroding and competition was increasing across the board,” the analysts wrote. “Instead Musk made a poker move for the ages and cut prices globally with China front and center to catalyze volumes/units which should now impressively be in the 1.8 million range for 2023.”
Looking ahead, the firm called 25% to 30% unit growth year-over-year “very achievable” for Tesla in 2024, “with upside surprises likely in the cards driven by Model Y sales in China and Europe”
“While overall EV demand has clearly moderated globally we are still in the early days of this massive transformation with Tesla leading the way as we estimate by 2030 roughly 20% of autos will be EV based, analysts wrote.
Then there’s the question of if and when Tesla’s ambition of full-self driving (FSD) vehicles will become reality.
“Tesla’s FSD capabilities continue seeing increased traction in the market despite several questions surrounding the safety of this software, but we view this as another incremental value driver in the TSLA growth story,” the analysts wrote.
“We view Tesla where Apple was in the 2008/2009 period as Cupertino was just starting to monetize its services and golden ecosystem with the Street not seeing the broader golden vision at the time,” they added.
AUZ Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
