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New Street Research Raised Tesla TSLA Price Target to $1100 on Game-Changing Gross Margin

by Vincent Y April 30, 2020

New Street Research Raised Tesla TSLA Price Target to $1100 on Game-Changing Gross Margin

On April 30th, New Street Research increased Tesla (TSLA) the EV maker's price target from $800 to $1100 on the Game-Changing Gross Margin.

 

From the company note:

"Tesla reported Auto gross margins of 25.5%, 900hps ahead of our expectations.

  • Model Y already profitable with 5,000 units produced!

  • Model 3, S, X ex-subsidy gross margin up 200bps sequentially 600bps YoY, excluding shutdowns!

This means we increase our 2025 gross margin expectations from 25% to above 30%.

Game changer for valuation - 2025 Ebit range $25-32bn, we increase our target price to $1,100"

 




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