Tesla stock went above $ 1,200. Here you can find $ 2,000

However, a Wall Street analyst shows that the stock will still increase by 66% over the next 12 months and will reach $ 2,000. Until now Tesla (TSL to) shares increased 189% this year. increase in technology sector.

Wedbush analyst Dan Ives said in a report earlier this week that Tesla’s demand for Chinese consumers in Model 3 could help increase the stock. He called the Chinese power “the ray of light shining for Tesla in the dark spherical macro”.

Ives said that the demand for Tesla’s new Model Y SUV is also growing in China. For these reasons, he thinks that China’s growth may add $ 300 to $ 400 to the stock price.

There is a warning, though. The official price target of Ives at Tesla is only $ 1,250. The $ 2000 call for bull case. Everything should go well for Elon Musk’s company.

Wall Street still loves Elon Musk and Tesla. Here is why

Nevertheless, Tesla’s market value would be about $ 370 billion at a share price of $ 2,000.

Currently there are only eight American companies that are more valuable than this – apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Google owner Alphabet (GOOGLE), Facebook (FBI)By Warren Buffett Berkshire Hathaway (BRKB), Visa (V) and Johnson and Johnson (JNJ).
Thanks to Tesla’s shares, he continued to climb healthy sales for more expensive Model S and X vehicles, as well as more affordable 3 and Y models.

Many other Wall Street analysts, however, are skeptical of Tesla.

Bear case for Tesla

According to Refinitiv data, only nine out of 33 analysts covering Tesla have a “purchase” score. Eleven Tesla have a “hold” rating and the remaining thirteen investors recommend selling Tesla. The average price target for all Tesla analysts is only $ 710.47.

Tesla, the company has not yet prove that it can be consistently profitablethis is the main reason for stock Not on the S&P 500 yet – despite great market value.
J.D. Power also recently Tesla is in the last place in the latest quality rating for major automakers.
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There is also Elon Musk.

While Tesla CEO is hailed as a visionary by his fans, Musk’s detractors worry about your passion for saying Controversial things on Twitter and the last comments suggesting it coronavirus concerns inflated.

Some investors are also concerned about brain drain at Tesla. Several key managers left last year and Tesla has no operations manager to help Musk.

COO deficiency It is a concern for some analysts, especially since Musk has other commercial interests that occupy his time. SpaceX and her tunnel company Boring Company.

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About the Author: Abbott Hopkins

Analyst. Amateur problem solver. Wannabe internet expert. Coffee geek. Tv guru. Award-winning communicator. Food nerd.

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