Wedbush analyst Dan Ives raised his target share price for Telsa Inc. TSLA,
to $ 2,000 from $ 1,250 on Friday, making him the highest among analysts on FactSet. “We believe that with demand for the Model 3 acceleration stronger than expectations in China in the summer period, the reduction of the blockade in the US / Europe and some potentially ‘game-changing’ battery developments in the horizon (Battery Day, another key catalyst) that Tesla stocks are likely to have more room to run, “Ives wrote in a note to clients. The move comes a day after Tesla shares closed with a new record of $ 1,133.36, increasing its valuation to more than $ 207 billion and more, at least for now, Toyota Motor Corp’s Japan TM ., -1.18% of market value of $ 203 billion. Toyota, which makes more than 8 million vehicles a year, has long been the world’s leading automaker by market capitalization. Tesla is expected to report second-quarter sales this week, and analysts surveyed by FactSet are expecting the sale of 72,000 vehicles in the quarter, of which 61,000 are Model 3. “While stocks have soared upward, we believe that The main fundamental catalyst remains the Chinese mass market, which shows clear signs of an increase in demand from Musk & Co. towards the rest of this year, “wrote Ives. The analyst expects Tesla to report stronger second-quarter deliveries than the market expects, and could hit 450,000 for the year. Tesla shares increased another premarket from 6.5% to bring its annual profit to 168%, while the S&P 500 SPX,
It has fallen 3.6%.
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