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‘Perfect Storm in 2022’ For Tesla, Says New Street Research -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — Tesla Inc (NASDAQ:) was given a vote of confidence by New Street Research analyst Pierre Ferragu Wednesday after telling investors he sees a “perfect storm in 2022” for the company.

According to the analyst, Tesla shares will be trading at least $1,580 by the end of this year, which is approximately half the price target.

Ferragu also stated that Tesla’s Shanghai facility is expected to keep growing, and Berlin and Texas are on the way. The total production rate will reach 1.8 million cars by the end 2022.

According to the New Street analyst, “We anticipate auto revenues exceeding $80bn in this year” and driving over 40% revision on future expectations. This is because we model prudently 34% and 29% unit growth for 2023, 2024 and 2025, which are well below the target of 50%.

Tesla shares rose 2.6% to $1.092.43 Wednesday.

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