- 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.
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