One of many largest potential catalysts for Tesla Inc (NASDAQ: TSLA) within the subsequent couple of years is the Cybertruck, and one analyst stated on Monday he is cautiously optimistic Tesla’s first truck shall be an enormous hit.
The Tesla Analyst: Wedbush analyst Daniel Ives reiterated his Impartial score and $1,000 price goal for Tesla.
The Tesla Thesis: Ives stated the Cybertruck seems to be gaining momentum forward of a 2021 or 2022 launch.
“We estimate that pre-order levels are staggering coming out of the gates since announced last year and currently stand north of 650k based on our estimate with momentum building for this latest Musk brainchild,” Ives wrote in a be aware.
Given preliminary demand for the Cybertruck seems important, Ives stated the subsequent massive information from the corporate relating to the Cybertruck might be the placement for the Cybertruck manufacturing facility. Ives stated Austin, Texas and Tulsa, Oklahoma seem like frontrunners at this level.
Ives stated one other massive query for buyers shall be figuring out whether or not or not the Cybertruck shall be a distinct segment “wow factor” model or a critical, large-scale challenger for legacy truck makers.
Lastly, Ives stated Tesla buyers shall be watching the event of early-stage EV truck competitor Nikola Company (NASDAQ: NKLA), which is focusing on 2022 for the launch of its Badger EV pickup truck.
Trying forward, Ives stated expectations for the Cybertruck will seemingly be between 175,000 and 200,000 deliveries within the first full yr of manufacturing.
Fintech Zoom’s Take: Ives’ Cybertruck supply projection of no less than 175,000 vehicles in 2022 is pretty aggressive given Tesla delivered simply 367,500 automobiles complete in 2019.
Ives’ $1,000 price goal and Impartial score are additionally indicative of how even bullish Tesla analysts are having a tough time justifying a lot valuation upside from present ranges.
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DateFirmActionFromTo Jun 2020Goldman SachsDowngradesBuyNeutral Jun 2020Morgan StanleyDowngradesEqual-WeightUnderweight Jun 2020WedbushMaintainsNeutral
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