Wall Street is getting more bullish about Tesla stock, but greater optimism among analysts hasn’t been enough to lift the price, given fear of higher interest rates.
On Sunday, Goldman Sachs analyst Mark Delaney increased his price target for Tesla stock to $1,200 from $1,125, while maintaining a Buy rating. Delaney also named Tesla a top pick for 2022.
Delaney believes Tesla is the leader in electric vehicles and that EV trends are poised to accelerate in 2022.
And the trends in the industry appear favorable. EVs’ shares of new-car sales in China hit 20% late in 2021, while the figure in Europe is running above 10%. EV penetration in the U.S. is only at about 3% of new-car sales, but there are more EV models reaching the U.S. market this year, including pickup trucks such as the Ford Motor (F) F-150 Lightning, the Rivian Automotive (RIVN) R1T and, of course, the Tesla Cybertruck
Tesla’s New Austin Factory to Start Up Soon. It’s Going to Be Wild.
Tesla's new facility means more Model Y crossover vehicles and the Cybertruck will be arriving on U.S. roads shortly.
On Sunday, Goldman Sachs analyst Mark Delaney increased his price target for Tesla stock to $1,200 from $1,125, while maintaining a Buy rating. Delaney also named Tesla a top pick for 2022.
Delaney believes Tesla is the leader in electric vehicles and that EV trends are poised to accelerate in 2022.
And the trends in the industry appear favorable. EVs’ shares of new-car sales in China hit 20% late in 2021, while the figure in Europe is running above 10%. EV penetration in the U.S. is only at about 3% of new-car sales, but there are more EV models reaching the U.S. market this year, including pickup trucks such as the Ford Motor (F) F-150 Lightning, the Rivian Automotive (RIVN) R1T and, of course, the Tesla Cybertruck
Tesla’s New Austin Factory to Start Up Soon. It’s Going to Be Wild.
Tesla's new facility means more Model Y crossover vehicles and the Cybertruck will be arriving on U.S. roads shortly.
