Tesla’s Earnings Will Be Dramatic

The surge in price few months ago comes after Argus Research raised its price target for Tesla from $556 to $808—among the highest on Wall Street, citing the company’s strong fourth quarter results and rising vehicle sales.

Another boost came from ARK Investment Management recently updating its valuation model to reflect Tesla’s massive upside potential: The firm believes that the stock could be worth $7,000 per share—and up to $15,000 in the best case—by 2024.

Tesla handily beat earnings last week, reporting its second consecutive quarter of profitability and promising investors that it should continue to be profitable going forward (it is yet to be so on an annual basis).

Tesla, which impressed Wall Street with rising deliveries and a China factory that came online faster than expected, vowed to increase its global vehicle sales by more than a third in 2020—to “comfortably exceed” half a million units, up from 367,000 last year.

Tesla’s shares have steadily risen and moved ever-higher in recent months, as the company works to transform itself from a niche manufacturer into a mass-market electric-vehicle producer. The stock has gained nearly 170% over the last six months alone, far outperforming the benchmark indexes.

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