Analysts Up Tesla Price Targets as TSLA Hits New Highs Post-Split

    0

    TSLA’s 5-for-1 stock split has now been completed and the stock continues to set new all-time highs, trading as high as $500 per share ($2,500 pre-split) on Monday. As analysts issue updated notes to account for the split, some TSLA price targets continue to rise as well.

    Argus Research analyst Bill Selesky has increased his TSLA price target from $378 to a street-high $566 per share.

    « Despite the stock’s strong recent run-up and high P/E multiples, we see further upside based on the company’s improving production outlook and accelerating consumer demand, » wrote Selesky. The $566 price target would imply a market cap just above $525B and 13% upside from Monday’s highs.

    Canaccord Genuity analyst Jed Dorsheimer has also increased his price target from $325 per share to $442 per share, post-split. Interestingly, the increased price target seems to be based on market sentiment rather than a revised forecast.

    « We have adjusted our price target and model to reflect the split but have made no other changes to our forecasts, » notes Dorsheimer.

    « While the split does not change the value, we suspect momentum traders and retail investors will find the lower threshold per share more attractive, » Dorsheimer adds. Canaccord Genuity maintains a hold rating on TSLA stock.

    New Street Research’s Pierre Ferragu, who once held a street-high price target on TSLA stock, is less bullish at these levels. Ferragu has downgraded the stock to a neutral rating. « I’m just telling investors, ‘when the stock pulls back, look at it again.’ But for now it’s probably fully valued, » Ferragu told Fox Business.

    Is Tesla overvalued at $1,900 per share or is there more room to run in the short and long term?



    SOURCE: https://www.w24news.com

    Donnez votre avis et abonnez-vous pour plus d’infos

    [gs-fb-comments]

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Ce site utilise Akismet pour réduire les indésirables. En savoir plus sur comment les données de vos commentaires sont utilisées.

    Vidéo du jour: