Credit Suisse has issued a note to investors to say it has raised its target price for Tesla to $800 per share, up from its previous $400, maintaining a neutral rating.
Currently, Tesla closed Friday’s trading at $880.02 per share, after touching an all-time high of $884.49 per share.
According to the Zurich, Switzerland-based investment bank, its research analysts Dan Levy and AJ Denham forecast its model for Tesla to 2030 (via @facts_tesla).
“We estimate Tesla will exit 2021 with installed capacity of 1.44 million units versus 840,000 currently,” explains the analysts, thanks to expansion at Giga Shanghai and with new factories in Texas and Berlin set to go online in 2021.
“The added capacity underscores our forecast for 2021 deliveries of 853,000 versus consensus 791,000,” says Credit Suisse.
Overall, the investment bank predicts Tesla will be able to churn out 5.1 million units of volume by 2030, “putting it in the top 10 of global OEMs—feasible given EV uptake, cost of capital advantage, and struggle legacy OEMs will face in EV transition.”
The note to investors concludes, “maintaining elevated multiple on base case of 30x given opportunity for future revenue streams not fully reflected in our model such as Energy, software, robotaxi, insurance and charging.”
Demand for Tesla in China continues to surge, as the company is off to a quick start for 2021. An earlier report noted new Model Y orders in the country won’t deliver until May.
