Tesla (TSLA) could be a $2,000 stock in the New Year.
All as the EV boom accelerates.
Not only could the $1.75 trillion climate spending bill help, but so could global leaders, who want millions of EVs on the roads yesterday.
Forcing the EV stock even higher, Wedbush analyst Dave Ives now has a $1,400 price target on the stock, saying the EV “revolution” could present us with a $5 trillion market opportunity, “with Tesla leading the way,” as quoted by Barron’s. He also believes EVs will represent 10% of all global autos by 2025, and up to 30% by 2030.
Also, in its most recent quarter, Tesla posted record numbers. Adjusted EPS of $1.86 beat estimates for $1.59. Revenue of $13.76 billion was also above expectations for $13.63 billion. All thanks to improved gross margins of 30.5% on its auto business, and 26.6% overall.