Tesla received a price target hike from New Street Research to $1,580 as deliveries in Q4 2021 surpassed expectations. The firm predicts the manufacturer will deliver 1.5m vehicles in 2022.
New Street Research has posted a new research note entitled Tesla 4Q21 Deliveries: monster beat, Tesla above 1.2m run-rate. Buy, TP $1,580. In the explanation, it wrote:
New Street Research expects Tesla to deliver 1.5 million vehicles next year:
Upside vs. consensus: the firm expects total deliveries of 1.5m vs. consensus 1.4m (7% upside), Exiting the year at an annual run-rate of 1.7m.
New Street Research believes Tesla needs to announce 4-5 new factories in the coming years to continue to grow at a 50% annual rate. The firm expects the announcements to be made no later than mid-2023, after which it will take up to 2 years before deliveries begin, and another ~2 years to increase the factory's capacity to >700k run-rate.
© 2022, Eva Fox | Tesmanian. All rights reserved.
We appreciate your readership! Please share your thoughts in the comment section below.
Legal Disclaimer --
This article is for informational purposes only. You should not construe any such information or other material as an investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by Eva Fox, Tesmanian, or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
Eva Fox holds zero shares of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.