Tesla Stock Price: $900 Target By New Street

By Amit Chowdhry ● April 4, 2021
  • The shares of Tesla Inc (NASDAQ: TSLA) have received a price target of $900 by New Street. These are the details.

The shares of Tesla Inc (NASDAQ: TSLA) have received a price target of $900 by New Street. And New Street analyst Pierre Ferragu issued a “Buy” rating on the company shares.

At the time of the research report, Ferragu noted that the consensus forecast for Tesla Q1 deliveries was 174,000 vehicles. And Ferragu estimated that there was about a 5% downside risk and he saw about 100,000 units being delivered out of Fremont and 65,000 from Shanghai for the quarter.

But on April 2, Tesla announced it produced over 180,000 vehicles and delivered nearly 185,000 in the first quarter. Ferragu pointed out that he would be a “Buyer” on any related weakness on Tesla shares though. And he strongly believes in Tesla’s ability to nearly double capacity over the next couple of years.

New Street is not the only brokerage to issue a bullish rating on Tesla shares recently. Morgan Stanley analyst Adam Jonas had reiterated an Overweight rating and an $880 price target on Tesla shares.

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