Tesla Could Rise 30% Next Year on China Demand, Wedbush Says
- Easing supply chain issues, new factories to boost production
- Shares gained 55% this year, with market cap above $1 trillion
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Tesla Inc. is in a strong position heading into 2022, with catalysts including robust Chinese demand and new factory openings in the U.S. and Germany, according to Wedbush.
Shares in the electric-vehicle maker could gain nearly 30% over the next 12 months, analyst Daniel Ives wrote in a note. He expects component shortages to ease next year, allowing Tesla to better meet growing demand in China, while new factories in Austin, Texas and Berlin should alleviate global production bottlenecks.