Tesla delivered over 936,000 units in 2021, with 308,600 vehicles alone sold in Q4, and the record-breaking numbers have multiple analysts boosting their price targets on the automaker.
A number of analysts increased their outlooks on Tesla going into the new year, following record deliveries in 2021 from the U.S. automaker (via @SawyerMerritt).
Deutsche Bank: raised price target to $1,200 (from $1,000), maintained Buy rating
Jefferies: raised price target to $1,400, maintained a Buy rating
KGI: raised price target to $1,480 (from $1,000), maintained Outperform rating
RBC Capital: raised price target to $1,005 (from $950), maintained a Sector Perform rating
At the time of writing on Monday, Tesla’s shares were trading for $1,168.87 (+$112.22) per share, up 10.62 percent from the market open.
The news also comes alongside reports that Tesla’s Gigafactory Texas is set to begin production next week, and weeks following Tesla’s submission of approval documents for Gigafactory Berlin-Brandenburg.
For the first time, Tesla was also Norway’s top-selling auto brand overall – in a country long known to be the world’s quickest adopter of (electric vehicles) EVs.
China is also an important market for Tesla, being the world’s largest single auto market.