Tesla (TSLA) could see higher highs.
All after Goldman Sachs reiterated its buy rating on the stock, with a price target of $333.33.
As noted by the analyst, “Tesla, given its leadership position in EVs (including its vertical integration and tight coupling of hardware and software, as well as its ecosystem of charging stations and brand), and its focus on clean transportation more broadly (given its solar and storage businesses) is well positioned to capitalize on the long-term shift to EVs. We expect Tesla to expand margins in the intermediate term as it ramps the important Model Y product as well as new factories in Berlin, Germany and Austin, Texas, and in the long-term as it increases its mix of software revenue,” as quoted by Investing.com.
Analysts at Wolfe Research also upgraded the TSLA stock to an outperform rating, with a price target of $360 a share. Considering global leaders want millions of electric vehicles on the roads, Tesla should be one of the top beneficiaries.