• 548 days Will The ECB Continue To Hike Rates?
  • 548 days Forbes: Aramco Remains Largest Company In The Middle East
  • 550 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 949 days Could Crypto Overtake Traditional Investment?
  • 954 days Americans Still Quitting Jobs At Record Pace
  • 956 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 959 days Is The Dollar Too Strong?
  • 960 days Big Tech Disappoints Investors on Earnings Calls
  • 960 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 962 days China Is Quietly Trying To Distance Itself From Russia
  • 962 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 966 days Crypto Investors Won Big In 2021
  • 967 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 967 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 970 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 970 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 973 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 974 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 974 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 976 days Are NFTs About To Take Over Gaming?
Western Companies Are Being Shamed Into Leaving Russia

Western Companies Are Being Shamed Into Leaving Russia

“Companies that fail to withdraw…

Oligarch “Traitors” Appear to Flee Russia for Dubai

Oligarch “Traitors” Appear to Flee Russia for Dubai

Hours after Putin’s speech, several…

  1. Home
  2. News
  3. Breaking News

Analyst Predicts Tesla Stock Will Soar To $500

Tesla

Tesla’s share price could soar to $500 if the company sells a lot of Cybertrucks and its Chinese gigafactory performs better than expected, a Morgan Stanley analyst has said in a note.

According to Adam Jonas’s  “bull case” for the EV maker, Tesla could be selling as many as 100,000 Cybertrucks annually by the end of 2024, with the average price tag at $50,000, CNBC reports. After the launch of the truck, Elon Musk tweeted orders for it had reached and surpassed 200,000 in a matter of days.

The Chinese gigafactory, for its part, could be producing 450,000 cars by 2024/2025. Currently, plans for the gigafactory are to churn out 3,000 vehicles per week beginning in the first quarter of 2020, Electrek reported earlier this week, adding that some 200 Model 3 cars were spotted at the facility.

Jonas, however, made a point of clarifying that the bull case only concerned the short to medium term.

“To be clear, we are not bullish on Tesla longer term, especially as, over time, we believe Tesla could be perceived by the market more and more like a traditional auto OEM [original equipment manufacturer]; we are prepared for a potential surge in sentiment through 1H20 but question the sustainability,” the Morgan Stanley analyst wrote. Related: Hedge Funds Are Piling Into This Key Commodity

“We are cautious on Tesla’s prospects in China, given geopolitical/CFIUS concerns, we believe that the Model Y will likely cannibalize a significant amount of demand for the Model 3, and see Berlin Giga as a first step for Tesla to ultimately be seen by investors as an auto company rather than a high growth tech firm, with valuation reflecting that at some point.”

Tesla announced plans to build a gigafactory in Germany last month, after Musk had been talking about the idea for several years.

Europe is a strong market for EVs: one Tesla model recently became the most sold car there. Tesla sold 17,490 Model 3 cars in the European Union in September, making it the most sold plug-in EV on the continent, according to data compiled by Clean Technica.

By Irina Slav For Oilprice.com

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment