Tesla Stock Price
Heading into 2022, Tesla is in a strong position, with catalysts including strong Chinese demand and the opening of new plants in the United States and Germany, according to Wedbush.
Wedbush analyst Daniel Ives wrote in a note that shares of the electric car maker will see a rise of nearly 30% over the next 12 months.
The component shortages are expected to ease next year, allowing Tesla to better meet rising demand in China, while new plants in Austin, Texas and Berlin are supposed to ease global production bottlenecks.
“China, which we estimate will account for 40% of the electric car maker’s deliveries in 2022, remains the primary focus for Tesla’s rise,” Ives said, repeating its superior rating and $1,400 price target.
Tesla shares had a good year with a 55% gain that pushed the company’s market value over a trillion dollars.
The company’s CEO, Elon Musk, has been emptying his stockpile of shares since November, and said on Twitter last week that he had nearly completed his goal of reducing his stake by 10%.
Ives estimates that by the end of 2022, Tesla will have the capacity to produce about two million cars per year from about one million today.Tesla Stock Price.
“Right now, Tesla has a high-level problem of demand outstripping supply,” he said.
