Tesla Stock Price to Rise Another 30% Next Year

Tesla Motors Stock Price Trend This Year

[Asia Economy Reporter Park Byung-hee] Bloomberg reported on the 28th (local time) that the stock price of the US electric vehicle company Tesla Motors is expected to rise by about 30% next year.

Wedbush Securities gave a stock rating for Tesla as outperforming the market and set a 12-month target price of $1,400. Tesla's stock price recorded $1,088.47 on the day. Tesla's stock price has risen more than 50% this year, and its market capitalization has surpassed $1 trillion.

Daniel Ives, an analyst at Wedbush Securities, presented this investment opinion, stating that the shortage of parts will be resolved next year, allowing for increased electric vehicle sales in the Chinese market.

Analyst Ives said, "The biggest reason for expecting Tesla's stock price to rise is the Chinese market," and added, "Tesla's market share in the Chinese electric vehicle market is expected to be 40% next year."

He predicted that the new factories in Austin, Texas, and Berlin, Germany, will alleviate Tesla's production delays. Ives expects Tesla's annual production capacity to double to 2 million units by the end of next year from the current level.

Argus Research also raised Tesla's target price from $1,010 to $1,313 on the same day, maintaining a buy rating. Argus stated that although competition in the electric vehicle market is intensifying, Tesla is an undisputed leader.

This content was produced with the assistance of AI translation services.