TSLA Stock: $1,100 Price Target With $1,500 Bull Case From Wedbush

By Amit Chowdhry ● Oct 23, 2021
  • The shares of Tesla Inc (NASDAQ: TSLA) have received a $1,100 price target from Wedbush. These are the details.

The shares of Tesla Inc (NASDAQ: TSLA) have received a $1,100 price target from Wedbush. And Wedbush analyst Daniel Ives had increased the price target Tesla from $1,000 while maintaining an “Outperform” rating on the company shares.

Ives noted that Tesla delivered solid top-line results, which were in line with analyst expectations. And the company margins blew away Street expectations. These results are expected to speak to a new Tesla margin story going forward.

The auto gross margin was over 30% and roughly 250 bps ahead of Wall Street expectations, which highlights the massive leverage in the Tesla story now starting to take hold with Giga China now being front-and-center. And now Tesla is on an EBITDA run-rate of about $13 billion, which is a staggering number considering the company is still in the early stages of building out its global EV moat. 

Ives also has a bull case at $1,500 compared to a previous bull case of $1,300.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.