"Tesla is over $1200"
"That nice dear, here take your medication"
From Barron's:
Tesla stock’s incredible run continues Thursday morning as more analysts lift estimates and—more important—target prices ahead of second quarter earnings.....MORE
The biggest splash came from Wedbush analyst Dan Ives, who boosted his bull-case target for Tesla stock (ticker: TSLA) to $2,000 from $1,500. It isn’t his base case. Ives’ official target price is now $1,250, up from $1,000. Still, $1,250 is the highest target price on the Street.
The bullish move has Tesla stock rising in premarket trading. Shares were initially up another 8.2% to more than $1,200, and jumped a little more after Tesla released delivery figures which, simply put, smashed second-quarter estimates.
Tesla delivered more than 90,000 vehicles in the second quarter. Analysts estimates were all over the place because of global pandemic, but the average estimate, according to FactSet, was roughly 72,000.
Ives, in his Thursday research report, pointed out deliveries were likely to beat estimates, but only predicted a number between 85,000 and 90,000 units. Even the most bullish estimates turned out to be to conservative.
Looking ahead, Ives sees a couple of additional positive catalysts for Tesla stock into year-end, including the much-talked about battery day and higher demand in China for locally built Model 3 sedans....
$1,211.28 last, up $91.65 (+8.19%)
