Dennis Gartman of the University of Akron’s Investment Committee for Tesla and Apple shares, the price of gold and his tips for investing in the presidential election.
Tesla Inc. shares were set to open near record highs Monday after receiving a $ 3,500 bull-case target at one Wall Street firm.
Strong demand from Model 3 from China and potential “game-changing” battery developments will bring shares up to 70% of current levels, according to Wedbush analyst Dan Ives, who previously had a bull-case target of $ 2,500.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| TSLA | TESLA INC. | 2,049.98 | +48.15 | + 2.41% |
“We believe the China growth story is worth at least $ 400 a share in a big deal for Tesla, as this EV penetration has increased significantly over the next 12 to 18 months, along with major battery innovations emerging from Giga. 3 come, “wrote Ives, who did not change his” neutral “rating and 12-month price target of $ 1,900.
Ives believes that Tesla’s China company could generate a profit of more than $ 35 per share, up from its previous estimate of $ 20 to $ 25, and expects “game changing” developments to emerge from the upcoming September 22 Battery Day .
TESLA DRIVES IN ‘BUBBLE’ TERRITORY OF LUCRATIVE STOCK SPLIT
Monday’s progress comes despite investors no longer having the opportunity to enter the next 5-for-1 action split, as the deadline to do so expired at the end of the company on 21 August.
The announcement of the split, in addition to the better-than-expected second-quarter results, in addition to the automaker, prompted a 49% rally in stock since August 11th. Shareholders of record as of last Friday will close an additional four shares for each share on August 31st.
CLICK HERE TO READ MORE ABOUT FOXBUSINESS
Tesla shares were up 390% this year through Friday, while the S&P 500 was up 5.15%.
