JPMorgan analyst Ryan Brinkman raised the price target on Tesla Inc (NASDAQ: TSLA) to $295 from $250 and reiterated Underweight. The price target implies a downside of 72.1%.
- After Tesla reported “much stronger than expected” Q4 deliveries, Brinkman raised estimates.
- Related Content: Analyst Says Tesla’s Q4 Is A ‘Trophy Case’ Quarter, Why He Thinks Momentum Building Into 2022
- Tesla delivered 308,600 vehicles in Q4, far above the consensus of $265,701 and the 227,586 Brinkman had modeled during the Q3 results.
- Brinkman now forecasts Q4 EPS of $2.22, up from the prior estimate of $1.54 and Bloomberg consensus of $1.98.
- Brinkman also extrapolates the higher rate of Q4 deliveries into future quarters, leading to higher operating leverage than his previous model.
- Price Action: TSLA shares traded higher by 7.49% at $1,135.94 in the premarket session on the last check Monday.
Latest Ratings for TSLA
|Dec 2021||Deutsche Bank||Maintains||Buy|
|Dec 2021||Argus Research||Maintains||Buy|
|Dec 2021||Guggenheim||Initiates Coverage On||Neutral|
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