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How An Analyst Target Of $200 Helped Tesla To Hit 2019 ATH

Tesla hits fresh 2019 All-Time-High trading around $383, just few bucks away from new All-Time-High as Credit Suisse issues some positive comments about the car marker, even though Credit Suisse analyst “Dan Levy” reiterated a Sell with a target of $200.

Credit Suisse keeps a price target of $200 on Tesla, but lifts its “blue sky scenario” price target to $400 from $365.

Tesla Powertrain
Tesla Powertrain

“While we hold an Underperform rating on Tesla, we nevertheless believe it’s important to give Tesla its credit where due,” Credit Suisse analyst Dan Levy wrote in a note to investors Monday. “We believe Tesla is leading in the areas that will likely define the future of carmaking – software and electrification.”

The analyst noted that last year Tesla had a total 44 gigawatt hours (GWh) of battery capacity, with 35 GWh from its Nevada Gigafactory and 9 GWh imported from Panasonic. According to Levy, that’s so far ahead of the industry that it is just shy of the 46 GWh of all other automakers in the world combined. GWh is a unit that measures energy output and represents 1 billion watt hours.

Seeking Alpha and CNBC have reported extensively on this marter. Looking ahead, the firm believes Tesla’s upcoming Powertrain Investor Day event in 2020 could shed light on Tesla’s plans to scale production/capacity expansion, battery cost, chemistry, module and pack architecture, battery safety and durability, sourcing plans/collaboration by region and the role of the Maxwell acquisition.

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