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Wednesday, August 26, 2020

Jefferies raises Tesla price target to Wall Street high of $2,500, says auto revolution still early - CNBC

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(This story is for CNBC PRO subscribers only.)

There's a new biggest Tesla bull on the Street.

On Wednesday Jefferies more than doubled its target on the stock, lifting its forecast to a Street high of $2,500 from a prior target of $1,200. The firm said we're "still early in the transformation of the auto industry," while reiterating its buy rating on the company.

Analyst Philippe Houchois, in a note titled "The Permanent Revolution Continues," said that although Tesla's dominance in the automobile industry might begin to shrink due to growing competition, its presence in areas like software and battery capacity will continue to give it an advantage over peers.

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"street" - Google News
August 26, 2020 at 07:51PM
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Jefferies raises Tesla price target to Wall Street high of $2,500, says auto revolution still early - CNBC
"street" - Google News
https://ift.tt/2Ql4mmJ
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