Tesla Inc. The stock has been producing its long winning streak for more than a year, but Wedbush analyst Dan Yves believes it could rally even further as Wall Street's unit deliveries outperform expectations.
The fruitful analyst said he believes deliveries in China and Europe are moving more than 15% above consensus estimates. With the stabilization of Model-Y deliveries in the U.S., "Tesla may now have a run-rate of 2 million units by 2022." The current factset consensus for 2022 deliveries is 1.54 million.
Shares of Tesla TSLA, -1.11%, gained 0.2% in Friday's premarket trading, gaining 32.3% on Thursday amid an eight - session winning streak. This is the longest gain since the 11-day series ended on January 8, 2021. It still closed at $ 1,229.91 on Thursday, November 4, 2021, up 17.6% on Thursday.
When Tesla Elon Musk's Technoking in Berlin, EVMaker's first manufacturing facility in Europe, cut the ribbon at its $ 5.5 billion gigafactory, the biggest gain in the latest series was 7.9% on March 22nd.
"We believe Tesla's stock has been selling well over the past few months with a risk-off mentality among tech investors. Meaning. Tesla supply article for 2022 and beyond, ”Wedbush wrote in a note to Ives customers.
He believes that the recent rise in gasoline prices has boosted EV demand for many "fence-sitter consumers", seeing the EV leadership benefit Tesla unequally. Is required.
Ives reiterated on Friday its outstanding rating on the electric vehicle manufacturer last year. He set his stock price target at $ 1,400, up nearly 38% from Thursday's closing price of $ 1,013.92.
Tesla's biggest challenge is that overall supplies will be "too tight", but he hopes Giga Berlin will help alleviate that problem in Europe. He also believed that the semiconductor shortage would be a "moderate problem" for Tesla, as well as the rest of the auto industry in 2022.
In short, Tesla currently has a high-end demand problem surpassing supply for both the Model Y and Model 3 worldwide, with supply being the biggest hurdle for Musk & Co. Helps to open major factories in Berlin and Austin. , ”Eves wrote.
