Argus analyst Bill Selesky raised his Tesla price target on Tuesday to $1,313, from his prior target of $1,010, according to a new research note to investors (via @SawyerMerritt).
Citing the move to open the Tesla Supercharger network up to other electric vehicles as “brilliant,” Selesky said involved fees could produce a revenue stream that is “potentially immense.”
NEWS: Argus analyst Bill Selesky raised his price target on $TSLA to $1,313 per share from the prior $1,010.
"Looking into 2022, we expect Tesla to continue to post strong revenue growth, to report lower operating expenses, and to improve automotive gross margins" pic.twitter.com/WR4dNVFpBv
— Sawyer Merritt 📈🚀 (@SawyerMerritt) December 28, 2021
In the note, Selesky wrote, “Looking into 2022, we expect Tesla to continue to post strong revenue growth, to report lower operating expenses, and to improve automotive gross margins, setting the stage for significant profit acceleration.” Selesky continued, “Additionally, Tesla’s recent announcement to open its Supercharger Network to other non-Tesla vehicles is a brilliant strategy, in our opinion…”
Tesla’s Supercharger Network opened to other EVs in the Netherlands just last month, though it’s currently the only country that offers the feature to non-Teslas thus far.
Near the beginning of 2021, Argus gave Tesla what was only its second $1,000 price target at the time, before the company’s shares rose to surpass double digits in October.
