Tesla +6% after JMP hikes price target to $1,500
Jul. 06, 2020 8:41 AM ETTesla, Inc. (TSLA)TSLABy: Clark Schultz, SA News Editor279 Comments
- JMP Securities thinks sales volume at Tesla (NASDAQ:TSLA) will catch up with the expectations implied by the current share price as it points to the impressive performance during the pandemic.
- "If the company can manage 90K units during an extraordinarily challenging quarter, there is no reason that TSLA cannot be shipping 130K to 140K units a quarter by the end of the year in our opinion," advises the firm.
- Looking further ahead, JMP thinks Tesla is on track to record revenue of $100B by 2025, which is quite a step up from the last few years.
- JMP assigns a price target of $1,500 to Tesla.
- Shares of Tesla are up 6.19% premarket to $1,283.40 as they give every indication that the 2020 rally will extend today.