- The shares of Tesla Inc (NASDAQ: TSLA) have received a $1,000 price target By Wedbush. These are the details.
The shares of Tesla Inc (NASDAQ: TSLA) have received a $1,000 price target By Wedbush. And Wedbush analyst Daniel Ives assigned the company an “Outperform” rating.
Ives noted that there is a lot of nervousness on Wall Street that were heading into the CPCA numbers out of China for the month of May after the company saw a softer performance in April.
Wall Street was bracing for the worst, but Tesla ended up rebounding as they saw 33,463 deliveries in May. Of that figure, 21,936 were delivered to China and 11,527 were exported to Europe. In April, Tesla had sold closer to 26,000 vehicles made in China — which was down from about 36,000 in March.
Ives noted that Tesla appears to have handled shaky PR in China and demand has rebounded well ahead of expectations. Going forward, Ives believes that Tesla will be on a 300,000 run-rate for deliveries in China as the growth story appears back on track in the linchpin region despite the “haters piling on from the month of April” — which he believes was an anomaly rather than the norm.
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