NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Tesla stock price forecast: Wolfe Research sees a 30% upside

by September 6, 2022
written by September 6, 2022

Tesla Inc (NASDAQ: TSLA) has bounced roughly 30% off its low in May but a Wolfe Research analyst says that rally is far from over yet.

Tesla stock has upside to $360 a share

Rod Lache now recommends that you buy Tesla stock as it has upside to $360 a share – another 30% upside from here.

His bullish view primarily stems from the recently passed “Inflation Reduction Act” that he’s convinced will be a blessing for the EV stocks. The analyst wrote:

Inflation Reduction Act has the potential to affect the entire value chain – significantly changing the trajectory of EV adoption, as well as the competitive landscape and earnings prospects for OEMs and Suppliers.

Lache now forecasts electric vehicles to have penetrated 20% of the U.S over the next three years. His previous estimate was a 10% penetration only by 2025.  

Tesla Inc is still down more than 30% for the year.

Lache raises EPS estimates for Tesla Inc

The legislation President Biden signed last month offers a $7,500 tax credit on all new U.S. built electric vehicles through 2032. Lache added:

We believe this development is far from fully appreciated. By 2025, the U.S. government may be directing incentives worth close to $11 billion to TSLA and their customers. We expect this to almost certainly influence OEM profitability.

Tesla Inc, he now forecasts, will boost its earnings to $16 a share by 2025 versus his earlier estimate for $12.70.

Last month, CEO Elon Musk at the Annual Shareholders Meeting said yearly sales will hit 100 million over the next ten years. Wall Street at large also has a consensus “overweight” rating on the Tesla stock.

The post Tesla stock price forecast: Wolfe Research sees a 30% upside appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Dow Jones, the S&P 500, and Nasdaq price forecast after solid U.S. job report
next post
Coupa shares jumped 15% after the bell: what’s fuelling the stock?

You may also like

Disney Q1 earnings report: ‘this stock is unmatched...

February 9, 2023

Bank of America sees a 50% upside in...

February 8, 2023

Google stock loses 9.0% after it’s A.I event:...

February 8, 2023

Ex-Coinbase manager pleads guilty to insider trading charges

February 8, 2023

U.K. CMA issues provisional decision on Microsoft-Activision deal

February 8, 2023

Nasdaq 100 forecast – can index continue to...

February 8, 2023

Jim Cramer is bullish on Uber stock after...

February 8, 2023

Summary of Powell’s remarks and what it means...

February 8, 2023

Best undervalued Bill Ackman stocks for 2023

February 8, 2023

What’s happening to Chipotle stock in extended hours?

February 7, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    My Trigger to Enter $VAPR

  • 2

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 3

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 4

    Pay Attention to These Stocks

  • 5

    New ‘Hunger Winter’ Looms as Europe Prepares to Shiver

Recent Posts

  • Disney Q1 earnings report: ‘this stock is unmatched anywhere else’

    February 9, 2023
  • Bank of America sees a 50% upside in this travel stock

    February 8, 2023
  • Google stock loses 9.0% after it’s A.I event: buy the dip?

    February 8, 2023
  • Ex-Coinbase manager pleads guilty to insider trading charges

    February 8, 2023
  • U.K. CMA issues provisional decision on Microsoft-Activision deal

    February 8, 2023

Categories

  • Economy (615)
  • Editor's Pick (235)
  • Investing (1,639)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick