- The shares of Tesla Inc (NASDAQ: (TSLA)) have received a price target increase from $419 to $1,071 by Canaccord. These are the details.
The shares of Tesla Inc (NASDAQ: (TSLA)) have received a price target increase from $419 to $1,071 by Canaccord. And Canaccord Genuity analyst Jed Dorsheimer upgraded the Tesla rating from a “Hold” to a “Buy.”
Dorsheimer cited Tesla as being positioned in an “attack and conquer” for another trillion-dollar market opportunity as the company ramps up its energy generation and storage services. And Dorsheimer is expecting Tesla’s generation and storage operations to yield $8 billion of revenue by 2025.
In a research note, Dorsheimer wrote that Tesla is rapidly “creating an Apple-esque ecosystem of energy products, harmonized in electrification, to become The Brand in energy storage.” And as battery supply constraints ease, Dorsheimer believes that Tesla can met the demand for its Powerwall home storage products. Since Tesla has a several-year lead and the company is now expanding aggressively into storage, Dorsheimer said that the “multiple is warranted.”
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