Tesla has yet another biggest bull on Wall Street. Here's why he thinks the stock could surge 57%.
bull Pierre Ferragu of New Street Research on Tuesday boosted his Tesla price target to $800 from $530, once again making his price target of the automaker the highest on Wall Street.
"Discounted back to early 2021, we would see that fully priced with a stock in the $640-960 range. On that basis, we increase our target price to $800," Ferragu wrote. In addition, the company is executing,"leading gross margins, cash flow positive, and a strong production capacity outlook with Shanghai ramping, Model Y production in Fremont scheduled this summer, and plans for a European factory in place," he wrote.
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