Musical Chairs Anyone
|Piper Sandler lifted its price target on Tesla to $ 553.00. Where does it stop. What punch bowl are they drinking from ?|
This stock is highly volatile and what happens when the major automobile companies begin to compete on a much larger scale . Tesla has taken all the risk and has done well without any competition to speak of.
What Next !
Who buys a car with limited dealer support , who fixes your car if there is a problem . As CNBC says, this is a cult car owned by its members . Are there cult investors in the stock too ?
Climb aboard the Titanic and pay top dollar for the best easy chair in the lounge , preferably close to the bar. Strap yourself in if you cant swim . Speculators Consider Puts And Good Luck
Tesla’s (NASDAQ: TSLA) growth potential in China has been underestimated by the market even after the stock’s recent rally, says Piper Sandler as the firm maintains its Overweight rating and raises its price target to $553 from $423.
Piper’s bullish view is based on its analysis of China’s vehicle registration data, which showed a 19% jump in sales of the Tesla Model 3 during the last three months.
“If Tesla’s Model 3 market share in the U.S. can be replicated in China – and if this logic extends also to Model Y – then Tesla’s annual volume in China alone would eventually exceed 650K units,” writes Piper analyst Alexander Potter.
“We’re not sure Tesla can immediately replicate its U.S. success in China (due to the strength of German brands in China), but we are increasing our estimates nonetheless,” Potter says, forecasting China deliveries of 112K in 2020, 225K in 2021 and 399K in 2022.
Earlier Argus Research raised its TSLA stock price target to $556, citing stronger than expected Q4 deliveries among other reasons.
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