Tesla Shares Surge Following Analyst Optimism
On Wednesday, shares of Tesla (NASDAQ: TSLA) rose 3.9% following positive forecasts from analysts. New Street analyst Pierre Ferragu predicts that Tesla’s stock price could exceed $1,580 per share within a year, citing increased production and profitability.
Ferragu expects Tesla’s manufacturing capacity to reach an annual rate of 1.8 million vehicles by the end of 2022, driven by new facilities in Texas and Berlin. He also anticipates the company will generate $0.30 in gross profit for every $1 in sales this year. Wedbush analyst Dan Ives echoes this sentiment, forecasting a 27% increase in Tesla’s share price to $1,400, buoyed by rising demand in markets like China and the U.S.
Despite growing competition from companies such as Ford, GM, and Lucid, analysts believe the EV market presents vast growth potential, positioning Tesla favorably as a leader in this $5 trillion industry.
