Jim Cramer Says EV Strength Will Be Tailwind for Tesla
Tesla has a new price target, this one from Oppenheimer, which boosted its target to $1,036--a Street high.
Oppenheimer analyst Colin Rusch said cost reductions and simplifications in the group's manufacturing base, as well as expanded production runs linked to the start of operations in Berlin and Austin, Texas, should support Tesla shares even after last years 700% surge that valued the group at more than $800 billion. Rusch lifted his price target by $550, to $1,036 per share, based on "85x 2025E EPS, discounted two years at 10%, in line with EV and artificial intelligence peers."
WATCH: Everything Jim Cramer Is Watching in the Stock Market on Inauguration Day
Watch: Inauguration Day 2021
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