There's a new biggest Tesla bull on Wall Street. Here's why he thinks the stock could surge another 24%
Shares of Tesla surged 13% Monday, topping $700 per share for the first time ever, after Bill Selesky of Argus Research updated his price target for the equity to $808 from $556 and reaffirmed his"buy" rating.
That implies a surge of as much as 24% from Friday's close. It's also now the new highest Tesla price target on Wall Street, edging out"Our positive view assumes continued revenue growth from the legacy Model S and Model X, as well as strong demand for the new Model 3, which accounted for more than 80% of 4Q19 production," Selesky wrote in a note Monday.
Selesky said that he expects Tesla to benefit from its dominant position in the electric-vehicle industry and continue to improve its performance despite past production delays, part shortages, labor cost overruns, and other difficulties.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Justice Department acknowledges 24 emails showing details of Trump's thinking on Ukraine aid holdThe Trump administration says in a court filing that 24 emails revealing details of President Trump’s decision-making regarding withholding military assistance to Ukraine, which goes to the heart of his impeachment, are protected from a lawsuit under “presidential privilege.”
Read more »
Kobe Bryant's Life and Legacy: 24 Mamba Mentality Quotes to Live ByKobe Bryant continues to be a source of inspiration for fans after his death with his 'Mamba mentality,' a mantra for the competitive spirit, including non-athletes. As the NBA icon said best: 'Hard work outweighs talent — every time.'
Read more »
Why Kobe Bryant Changed Jersey Numbers and the Special Meaning Behind No. 24 and No. 8Kobe Bryant wore both numbers throughout his legendary 20-year career with the Los Angeles Lakers
Read more »
China's CATL signs battery supply agreement with TeslaChina's top electric vehicle battery maker CATL said on Monday ...
Read more »