Dan Ives (Wedbush Analyst) told Yahoo Finance on Tuesday local time, We believe that electric vehicles are a $5 trillion business opportunity and the biggest change in the auto industry. Tesla’s future bull market continues to depend on increasing production capacity, Our research shows that starting next week, the Austin factory will start production.
Like other analysts, Ives sees China as still a growth opportunity for Tesla, which is expected to account for more than 40% of Tesla’s production in 2022. For Tesla, business growth in China will accelerate in 2022. We believe that the value of the Chinese market for Tesla is about $500 per share, and Wall Street does not fully realize the value of the Chinese market to Tesla.
Wedbush maintained an outperform rating and a $1,400 price target on Tesla’s stock, believing that Tesla’s stock price could rise to $1,800 in the best-case scenario. Although more manufacturers are joining the electric car track, this is not a “zero-sum game” for Tesla.