Most analysts are suggesting investors place stock in Tesla right now, for obvious reasons, and one particular research group just upheld its stance suggesting the same.
In an analysis compiled by Bill Selesky of Argus released Friday, the research group is recommending readers to buy into Tesla ($TSLA) right now, citing its low price after the 5-for-1 split adjustment and high demand through the pandemic as reasons for the company’s recent stock market success.
Argus raised its post-split Tesla target to $566 from its previous projection of $378, signaling increased trust in Tesla’s strength in the market. The report stated that Argus expects Tesla’s production issues, labor costs, and part shortages to improve throughout 2020 and beyond, and that the company’s unparalleled demand in the electric vehicle (EV) market would continue to sustain its success.
— David Tayar (@davidtayar5) August 31, 2020
One Twitter user shared a photo of the Argus analysis, as speculation mounts about the company’s growing stock prices. The news also comes in advance of Battery Day, while onlookers await the arrival of increased EV battery capacity and a slew of related price increases.
As the world waits on the EV to become more consumer-friendly, Tesla is riding its momentum into the release of its new Model Y, and experts won’t likely stop holding the EV giant on a high pedestal in the meantime.
As of writing, Tesla at its split-adjusted price is trading at $478.75, up 8% as of writing.
