On Friday, Credit Suisse more than doubled its price target on the stock — lifting it to $1,400 from $700 — saying shares are "priced for perfection."
, speculation is growing that it will report a fourth straight quarter of GAAP profits when it posts second quarter results on July 22. This means it could be considered for inclusion in the S&P 500. One of the primary factors behind Levy's new target, which is still below the $1,500 per share the stock currently fetches, is Tesla increasing the number of cars sold. Credit Suisse now envisions the company producing 1.8 million cars by 2025, versus prior estimates of 1.2 million.Shares of Tesla have gained nearly 500% in the last year, which Levy partially attributed to bears covering their short position.
In another sign that Tesla continues to mystify the Street to a certain extent, Levy said his comment that the stock could react negatively to any hiccup in data points was made "cautiously."
Pro
Pro Calm down Cramer
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit Suisse downgrades Netflix, says it's losing its luster as a 'stay-at-home' playNew for subscribers: Credit Suisse downgrades Netflix, says it's losing its luster as a 'stay-at-home' play Check out CNBCPro for a free trial. Pro It made money, so it’s no longer a growth stock. It was all about subscriber growth no matter how much money rhey lost. Subscriber growth is decelerating, so it will have to be valued like a cable company soon. Pro Internet technology companies rule the world. Pro Netflix to the garbage because it supports homosexuals, it is a very disgusting platform, subscribed to Amazon Prime
Source: CNBC - 🏆 12. / 72 Read more »
Tesla stock price target doubled to $1,400 by Credit Suisse as analysts caution any upset could trigger a correctionCredit Suisse doubled its stock price target on Tesla Inc. to $1,400 from $700 on Friday, and said the stock is "priced to perfection," meaning any material upset would drive a correction. Tesla shares have gained a stunning 259% in the year to date, while the S&P 500 has fallen 0.5%, driven by "euphoria' about electric vehicles, a run of promising datapoints and heightened interest from retail investors, who have become more active during the pandemic. Coming positive catalysts include Battery Day, when Tesla is expected to unveil a long-lasting battery for its future vehicles, and second-quarter earnings that may show a profit, said analysts Dan Levy and AJ Denham. The company is expected to reveal plans to expand capacity, and could double it from its current level of about 700,000 vehicles to 1.3 million, the analysts wrote. To justify its current share price, Tesla needs to clear a raised bar and show that by 2025, it will be producing 2.2 million cars, putting it on par with German car makers. As the world's most valuable car brand, it needs to deliver to lofty expectations, they wrote. Tesla shares were up 0.8% premarket. That is analysis? Hahahahhah when it was around $350 people said it was not worth it at that price. It reached $1,000 people said it was overbought and said it is not worth more than $750. It went up to 2k people said it was not worth more than 1,000. Advise, these experts aren't that rich. $ACOR aBCD pattern shorts dog piling low float boom 🤑🤑🏃🏃
Source: MarketWatch - 🏆 3. / 97 Read more »
Dan Bilzerian Is A Renter, And Someone Else Pays His Credit Card Bills: LawsuitHow does Dan Bilzerian fund his lifestyle? He rents, and someone else pays his lease along with his credit card bill, a lawsuit alleges. I would like these problems. Now this is something they need to teach in schools JorgeOchoa95
Source: Forbes - 🏆 394. / 53 Read more »
5 common credit myths debunked by a finance expert - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
More contactless credit cards than ever due to COVID-19 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. This always seems to fail when I, after tapping to pay, have to pick up a pen and folio, write in a tip and total, and sign.
Source: BusinessInsider - 🏆 729. / 51 Read more »
How women can lower financial stress and take control of credit card debt during coronavirusPaying down debt has become a professional mission of female empowerment for Bernadette Joy, but the coronavirus has shifted her thinking on how to help women relieve financial stress.
Source: CNBC - 🏆 12. / 72 Read more »