- The shares of Tesla Inc (NASDAQ: TSLA) have received a price target increase from $135 to $155 by JPMorgan. These are the details.
The shares of Tesla Inc (NASDAQ: TSLA) have received a price target increase from $135 to $155 by JPMorgan. And JPMorgan analyst Ryan Brinkman maintained an “Underweight” rating on the Tesla shares.
Brinkman had increased estimates in order to account for Tesla’s better-than-expected first-quarter deliveries. And now Brinkman is seeing the traction in deliveries and increased the 2021 forecast to 800,000 from 765,000.
Back in December 2020, Brinkman told clients not to increase their holdings in Tesla to approximate its weight in the S&P 500 around the time of Tesla’s inclusion to the benchmark at the time.
In January, Brinkman had raised the price target on Tesla from $125 to $135. At that time, Brinkman was expecting a negative reaction to Tesla’s softer-than-expected Q4 results. The Q4 results also had a reduction in the granularity of Tesla’s delivery guidance.
It’s worth mentioning that Brinkman’s price target is significantly lower than the $1,000 price target that was assigned by Wedbush analyst Dan Ives recently.
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