Shares of world most valuable vehicle maker Tesla Inc!. is presently up $1,643.01 +98.36 (6.37%) as at now in pre-market, as investors continue to bet that the stock is headed for inclusion in the S&P 500.
Most bullish analysts seems to be done raising price targets and doing catch up with the massive rally as the price keeps going higher and higher since breaking the psychological price of $1000.
One of Tesla’ most bullish analysts, Daniel Ives, of Wedbush has kind of stopped raising his Tesla Shares price target lately. In a new report sent to clients, Although while the Street reduced its annual delivery forecast to roughly 400k from its original 550k pre-COVID, Daniel Ives still believes Tesla could deliver about 450,000 vehicles this year.
Ives has a Neutral rating and $1.250 price target, while the stock is present worth $1,544.65.
Apart from Ark Invest 2024 price target of $7,000, with a $1,500 bear case and $15,000-a-share bull case, and JMP Securities analyst Joseph Osha that most recently raised the firm’s price target on Tesla to $1,500 from $1,050 and keeps an Outperform rating on the shares, most other bullish analysts have a price target of $1300 max.
Osha is citing the company’s “significant upside” in Q2 deliveries with 90.7K shipments vs. his forecast of 73.8K and the consensus figure of 70.3K. Osha adds that Tesla’s Q2 delivery outcome is “significant” and supports his outlook for continued competitive gains as the company’s decline of about 5% from last year’s volume compares to the industry where demand is collapsing at a rate at least 3-times that pace.
So, do you think Tesla bullish analysts are being careful, or they just have no idea where the shares price of the Electric vehicle maker is headed?.