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KGI Securities analyst Jennifer Liang initiates coverage of Tesla (NASDAQ: TSLA) shares with Outperform rating and $855 price target. The firm believes the company has a unique business model that will ensure it will thrive in the coming years.
KGI Securities initiates coverage of Tesla shares with positive and high ratings. Analyst Liang acknowledges the manufacturer's leadership, pointing out that it will remain so in the medium term. The California-based manufacturer has a unique business model and high competitiveness, which gives it the opportunity to thrive.
"Tesla will continue to stay ahead of the pack in the midterm; opportunities thrive for those with unique business models and strong competitiveness."
The firm expects Tesla to maintain its leading position in the electric vehicle market for at least the next 3-5 years. This is possible due to a number of areas in which the company is developing. The analyst believes Tesla is demonstrating technological excellence and an ongoing commitment to expanding its EV offerings on all fronts, including software and hardware, namely:
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