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Tesla Upgraded by Daiwa on Enhanced Competitive Advantage -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — Jairam Nathan, a Daiwa analyst, upgraded Tesla Inc (NASDAQ) shares from neutral to outperform on Friday. He told investors that increased supply chain worries and rising oil prices would increase the company’s competitive edge over traditional internal combustion engines.

Tesla shares were up more than 1% Friday at the $812 level. Nathan noted that he had lowered the price target for Tesla from $980 to $900 in his note.

Nathan said rising energy prices will likely “accelerate the shift to EVs and Tesla is best positioned to satisfy higher demand with capacity expansion in China and the US.”

He stated that China’s export potential and China’s record in managing shortages of chips in 2021, could help strengthen the company’s position given the Russia/Ukraine current situation.

“While start of production at the Berlin plant could be delayed, recent media reports of Tesla increasing capacity at its Shanghai facility gives it more flexibility to meet European demand,” explained Nathan

 

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