Tesla is still running higher, as hoped.

On Jan. 27, we said, “Tesla (TSLA) is accelerating. Last trading at $158, it could retest $200 this year. For one, the electric vehicle boom has only just begun. Globally, 10% of all new autos bought were EVs last year and could soar to 40% by the end of the decade, says Bloomberg NEF. Meanwhile, new tax credits for EVs are being phased in this year in the U.S., and. more automakers are ramping up their production of EVs.”

Today, TSLA is up to $194.09 and quickly nearing our $200 target price.

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Helping, Wedbush analyst Dan Ives reiterated an outperform rating on the stock, with a new price target of $225 a share.  “Based on our recent survey work in the field, we believe the China EV [electric vehicle] reacceleration story for Tesla is just starting to hit its stride and should be a tailwind in [the first quarter],”  Ives said, as quoted by MarketWatch.com.

“The price cuts on Model Y/3 have resulted in a clear demand driver for Tesla in this key China region and coupled with the ‘reopening’ post lockdowns are having a meaningful impact for Tesla in the field over the last few weeks,” he added.


Ian Cooper