Probably not.
If it maintains its first-week growth momentum, Tesla stock will match all of last year’s gains in mid-March. Not that anyone is predicting a 700% increase in the stock this year. Or even a tenth of it.
In fact, even some of the most bullish analysts are predicting that Tesla’s stock will reach the level of $ 1000 by the end of the year, rising nearly 14% for the rest of 2021, close to Friday’s record high.
Some analysts with a relatively positive outlook for the company have set a 12-month price target close to Friday’s 880. The current average target price for analysts is 40 440, which is a 50% decline in the stock.
Following the stock, out of 35 analysts, 13 have a “Strong Buy” or “Buy” recommendation, and another 11 have a neutral or hold recommendation. Of the rest, seven have a sell recommendation, and only four have a “strong sell”.
Morgan Stanley’s Adam Jonas is one of the bullish value targets among bullish analysts. Considered one of the top auto analysts on Wall Street, Jonas revised his recommendation on Tesla to “overweight” in late November, but has been scrambling to keep raising its price target ahead of market prices.
On November 18, when it upgraded the stock, it set a target price of 40,540, up 22% from that time. This past Wednesday it pushed it to 10 810, just to see if Tesla shares would quickly pass that mark as well.
Instead, they are relying on Tesla’s ability to grow fast and electric vehicles, or Evis’s ability to capture a large share of the world’s growing hunger. It is predicted that in 10 to 20 years, Tesla could become the world’s first automaker, not just for electric cars, but for any type of car.
Dan Ives, a tech analyst at Wedbash Securities, has a base case target price of 15 715 and a bull case target of 1000 for Tesla shares. His purchase recommendation on Tesla is based on his belief that Tesla will continue its strong run.
“I think they will hit 1 million vehicles [delivered annually] By 2022. And when we go to 20-25-26, 3 to 4 million should look north, 40% growth will come from China, “he said. We believe that if you look at the next 10-15 years you can “start to see 10-12 million vehicles a year,” he said. Current world leader Volkswagen sold 11 million cars in 2019.
It’s all speculation. But what is undeniable is that Tesla stock analysts have consistently proven wrong on a run that started 15 months ago.
It was an increase that analysts had never seen coming. Their average target price in October-October 2019 was about સમયે 50 at the time, which was adjusted for the split. A year ago, the 12-month target price was 62.
From here, Ives points to some of the most successful tech stocks in the world and says that Tesla is now at the same point those those companies did at the turning point in their history.
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