Tesla’s stock (TSLA) is on the rise this week as KGI Securities is initiating coverage of the electric vehicle company and giving it a high price target for its “technological superiority.”
KGI Securities, a Taiwan-based financial company, has been known for its Apple coverage due to their frequent unique insights based on leaks.
Now the company is initiating coverage on Tesla with an “Outperform” rating and a $855 price target, which represents a significant upside over today’s price.
In a note to clients, KGI Securities analyst Jennifer Liang wrote that she believes that the electric automaker currently has “technological superiority” over the competition and several key advantages:
“Tesla will continue to stay ahead of the pack in the midterm; opportunities thrive for those with unique business models and strong competitiveness. We expect Tesla (TSLA US) to maintain its leading position in the global EV space for at least the next 3-5 years. Tesla demonstrates technological superiority and continued dedication to enhancing its EV offerings on all fronts, including software and hardware, namely: (1) advanced Autopilot and full self-driving (FSD) features; (2) the ability for over-the-air (OTA) updates; (3) in-house design of software and electronic architecture, enabling the firm to introduce innovations faster than rivals; (4) a self-developed new 4680 battery cell architecture and unibody castings; and (5) a wide Supercharger network build-up worldwide.”
However, the firm warns that Tesla’s market dominance will dimish over time as more competition enters the space.
Liang wrote:
“Nevertheless, we do not foresee market dominance for Tesla as traditional OEMs, EV start-ups, and global tech giants will seize the massive market potential and increase their competitiveness, brand awareness, software strength, and unique business models. Nio (NIO US, US$44.68, NR), for example, has a strong presence in China and its success is partially built on its battery-as-a-service (BAAS) approach.”
According to TipRank, there are now 23 Wall Street analysts who have updated their 12-month price targets for Tesla in the last three months.
The average price target is $746.91 with a high forecast of $1,200 and a low forecast of $160. Most analysts are rating Tesla’s stock as the equivalent of a “buy.”
Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.
purchase lasuna online – buy himcolin for sale purchase himcolin sale
purchase besifloxacin – brand besifloxacin oral sildamax
probenecid brand – order benemid 500 mg pills order carbamazepine 400mg without prescription
buy celebrex generic – cheap celecoxib 100mg order indocin 50mg sale
order mebeverine 135 mg online – order colospa without prescription pletal 100 mg price
rumalaya online – amitriptyline us order amitriptyline online
mestinon 60 mg uk – cost imitrex 25mg imuran 50mg tablet
cheap generic diclofenac – buy isosorbide 20mg online cheap buy nimodipine paypal
periactin canada – periactin for sale buy tizanidine 2mg online
cheap generic artane – purchase emulgel for sale how to purchase emulgel
oral omnicef 300 mg – cleocin us
isotretinoin pills – buy generic isotretinoin 20mg deltasone generic
buy deltasone 20mg online – deltasone 10mg cheap permethrin cost
cheap acticin – tretinoin without prescription buy retin cream generic
buy betnovate 20gm cream – purchase differin cream purchase monobenzone without prescription
purchase metronidazole without prescription – cenforce 50mg for sale cost cenforce 50mg
augmentin 625mg generic – buy levothyroxine pills levothyroxine tablets
cleocin for sale – cleocin 300mg us purchase indomethacin pill
order cozaar – order keflex generic buy cephalexin generic
purchase eurax for sale – how to buy bactroban ointment order aczone without prescription
modafinil 100mg sale – provigil 200mg for sale order meloset without prescription
purchase zyban without prescription – brand zyban 150 mg order shuddha guggulu for sale
capecitabine 500mg usa – danocrine for sale online danazol 100mg canada
order prometrium 100mg – fertomid pill fertomid sale
alendronate 35mg pill – fosamax 35mg oral order medroxyprogesterone 5mg
cheap aygestin 5mg – order careprost without prescription yasmin cheap
buy cabergoline 0.5mg sale – buy cabgolin pills for sale alesse for sale
estradiol 2mg pills – order yasmin online cheap arimidex 1 mg cost