Tesla shares had one of the best journeys in 2020. And even in 2021, they are doing well so far. Yes, there has been a couple of ups and downs here and there but other than that it has been great. With its shares’ prices stuck between $800 and $900 for quite a while now, it seemed that the growth is over. But, now an analyst has suggested that Tesla Shares might even reach $1200 shortly.
Recent reports from analysts
Among all the analysts that have their eye closely set on Tesla’s share, $1200 is the highest target. This was given by Alexander Poetter from Piper Sandler. Initially, the analysts gave a target of $515, which quickly went only to become more than double at $1200. The main reason why the analyst recommends a buy for the share is the Tesla business model. He believes that the company has endless opportunities to pursue, and there is still a long time before they might not have anything new to do. Well, this is true, who would have thought that we would see rocket tech actually being used in a car. Well, Tesla is doing that in the Tesla Roadster.
The analyst Alexander Potter has not only given his predictions about the price of the shares of the company. He also said that Tesla would also make record deliveries sin 2021. The analyst even gave an exact figure of 894,000 vehicles. At the same time, the long-term delivery goal that he suggested was 9 million annually by the end of 2030.
Growth and the strong position of Tesla
Even though the price of Tesla shares tumbled due to the company missing the EPS estimates, it has gained back again. Even though investors and retailers are looking at the numbers negatively, the fact that Tesla has recorded a significant rise in the number of deliveries and earning is great. Analysts say that the current price of the share is still far above than the speculated price. This is taking into account the company’s rapid growth and the strong numbers they are releasing every quarter.
The rapid growth of Tesla has also created a wave in the EV industry. Investors are no also investing in smaller EV companies that have huge growth potential in the near future. This includes the like of Nio, Li-Auto and others. At the same time, the adoption of EV vehicles has also started to increase.
What are your thoughts on the huge price targets that analysts are putting out there for Tesla’s shares? Do let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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