https://www.teslarati.com/tesla-tsla-jefferies-upgrade-demand-capacity/
Tesla stock (NASDAQ:TSLA) recently received an optimistic outlook from Jefferies Equity Research, with analyst Philippe Houchois raising his price target on the automaker from $850 to $950 per share. Jefferies cited several reasons behind its update on TSLA stock, though the analyst noted that part of it is due to the growing gap between Tesla and legacy OEMs.
“We raise EBIT estimates 7-9% for 2022-23 and PT to $950 on higher capacity ramp and sustained demand, following further analysis of Q3 data and various sources of information on the soon-to-be-launched Berlin facility. For some time, the narrative has been legacy OEMs closing the gap; we see little evidence as Tesla continues to challenge at multiple levels. We raise EBIT and margin estimates in contrast with doubts about earnings momentum across legacy OEMs,” Houchois wrote in a note.
Submitted October 15, 2021 at 07:20AM by chrisdh79 https://ift.tt/3mY6boF
