. World News – United States – Tesla shares hit 1 in bull fall. $ 000 as global demand increases

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Pierre Ferragu, Managing Partner of New Street Research, shares insight into the profitability, existence and future of Tesla.

Tesla Inc. . According to a Wall Street analyst, stocks could double from current levels as global demand for electric vehicles rises over the next five years.

Global demand for electric vehicles could reach 10% of auto sales by 2025, down from 3% now, wrote Dan Ives, an analyst at Wedbush Securities.

He raised his price target to $ 560 per share and his bull case scenario to 1. $ 000 as Tesla believed it could deliver 1 million vehicles by 2023 (possibly 2022). .

« We believe that this demand momentum will benefit the clear leader in electric vehicles, Tesla, disproportionately in the next few years, particularly in the key region of China, which we believe will account for ~ 40% of all electric vehicle deliveries by 2022 could, ”he wrote.

He says Tesla’s Shanghai Gigafactory, which opened in October 2019, will give the electric vehicle maker a « major competitive advantage » over domestic gamers BYD Auto Co. , Nio, Xpeng and Li Auto Inc. . which will also benefit from increasing demand.

European efforts to reduce carbon emissions and increase government scrutiny will spark a wave of demand led by France, Germany, Italy and the United States. K. . Tesla is aiming for the Berlin Gigafactory to start production in July.

Ives believes that a Biden administration through tax credits and incentives could potentially give the EV space another boost.

S&P Dow Indices announced last week that Tesla shares will be added to the S&P 500 on December. 21 as part of the index realignment. The Palo Alto, California. The electric car-based electric car maker, which will be one of the largest companies to join the S&P 500, recently posted a fifth straight quarterly profit.

Shares are up 20% in the four trading days after the announcement and are up 485% this year.

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Tesla, Inc. . , NASDAQ: TSLA, Wedbush Securities, stocks, NASDAQ, S&P 500 Index

World News – US – Tesla shares hit 1 in bull case as global demand rises. 000 USD
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