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- kingslayeerkingslayeer
  ·2021-08-30
  Diu
  Crypto Firms Want Fed Payment Systems Access—and Banks Are Resisting
  Efforts by the new breed of financial entities, if successful, could create more competition for tra
  Crypto Firms Want Fed Payment Systems Access—and Banks Are Resisting
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- kingslayeerkingslayeer
  ·2021-08-08
  Next year
  Tesla Stock: Headed to $1,200?
  Tesla deliveries more than doubled year over year in Q2.Rising demand for electric vehicles could benefit Tesla.Investors should exercise caution when it comes to analysts' price targets.It's been a wild year for Teslastock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.In February,Piper Sandler analys
  Tesla Stock: Headed to $1,200?
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The banks are pushing back.</p>\n<p>The companies include Avanti Bank, which aims to provide custody services for institutional investors in cryptocurrencies, and Kraken, a cryptocurrency exchange platform. They say direct access to the Fed’s payment systems would allow them to more quickly and cheaply process orders from customers buying and selling digital assets. Currently they must partner with traditional banks that have accounts with the Fed.</p>\n<p>Traditional banks say the newer financial firms are supervised relatively lightly and lack the internal controls needed to ensure against money laundering and other illicit activities—concerns that regulators have expressed about the crypto industry more broadly. And they say the firms are riskier because they aren’t insured by the Federal Deposit Insurance Corp.</p>\n<p>“It is reasonable to expect that such applicants will pose heightened risks regarding matters of anti-money-laundering, cybersecurity and consumer protection, as well as safety and soundness,” the Bank Policy Institute, which represents large banks, and the Independent Community Bankers of Americawrote in a letter to the Fedlast month.</p>\n<p>Avanti and Kraken, which both have “special purpose” bank charters in Wyoming, say they have all the same compliance, controls and supervisory requirements of traditional banks. The only U.S. bank regulator that has a supervisory exam manual for crypto is in Wyoming, they say.</p>\n<p>If they have their way on access to the Fed’s payment systems, that could encourage more firms to follow their example, introducing more competition for banks.</p>\n<p>“It has the potential to reduce banks’ traditional role as gatekeepers and toll collectors for payment flows that are likely to grow over time,” said Jonah Crane, a partner at Klaros Group, an advisory and investment firm.</p>\n<p>Last year, the central bank processed about $900 trillion in payments on its systems. These ranged from small bank-to-bank payments such as direct deposits or automatic bill payments to large wire transfers between financial institutions.</p>\n<p>The struggle over access to the Fed’s payment systems also reflects incumbent banks’ concerns about the potential for competition from larger tech companies, such asFacebookInc.and Google parentAlphabetInc.,which don’t face the same level of federal bank regulation.</p>\n<p>“They have some reason to be paranoid,” said Eugene Ludwig, a former comptroller of the currency, who was responsible for the regulation of large national banks.</p>\n<p>For example, Diem Association, which is backed by Facebook and 25 other members, has said it is developing a blockchain-based payment network that will be faster and cheaper than existing systems while protecting consumers and providing safeguards against financial crime.</p>\n<p>Diem is partneringwith a Fed-regulated bankon the project. But if other tech companies got direct access to the Fed’s payment systems, they may not need to take the additional step of partnering with established banks, according to banking lawyers and former regulators.</p>\n<p>Regulators are also concerned that some types of crypto activities could pose risks to financial stability if they grow big enough. For example, some officials worry that so-called stablecoins—a form of digital currency pegged to the value of the dollar and other traditional currencies—could be susceptible to the kinds of runs that affect banks and mutual funds in a crisis.</p>\n<p>Fed regulators are seeking feedback from the industry on a set of proposed principles for regional Fed banks to consider when evaluating applications for access to the payment systems from nontraditional banks. Among them: whether strains at the institution may be transmitted to other segments of the financial system in times of stress.</p>\n<p>The Fed suggested that federally insured banks already are likely in compliance with the guidelines. Firms that aren’t “may require more extensive due diligence,” the Fed said.</p>\n<p>In recent years, startup financial firms have benefited from the issuance of new types of charters at the state level, and approval to operate as trust banks at the federal level. While full-service banks typically engage in three core activities—deposit taking, lending and payments—these nontraditional institutions offer only some of these services. They generally aren’t allowed to lend to customers, but some are authorized to accept deposits while others collect fees for maintaining custody of the private digital keys for crypto customers or operate crypto exchanges.</p>\n<p>Caitlin Long, chief executive officer of Avanti, said granting direct access to the Fed’s payment systems to banks that cater to the digital asset sector should be welcomed because doing so would bring them under the watchful eyes of regulators.</p>\n<p>“The absence of action to open a direct path has pushed much of the U.S. dollar banking of the digital asset industry into the ‘shadow’ banking system, which means risks cannot be readily monitored,” shewrote in a July comment letter.</p>\n<p>Still, after about a year of waiting for Fed approval, Ms. Long said in an interview that her firm this month applied to be directly regulated by the central bank, a move she said should bolster its case for access to the central bank’s payment systems. If approved, her bank would also be directly subject to Fed regulation and examination.</p>\n<p>Kraken also sought direct access to the Fed’s payment system last year and is still awaiting an answer.</p>\n<p>The cryptocurrency exchange operator describes itself as just as safe as an FDIC-insured bank because it doesn’t lend out its depositors’ money and holds 100% of their cash at a correspondent bank or at the Fed, via its correspondent institution. It is also supervised by the Wyoming Division of Banking.</p>\n<p>“I agree these banks need to have a bank-grade supervisory and oversight program,” said David Kinitsky, chief executive of Kraken Bank, a wholly owned subsidiary of Kraken. “We do.”</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto Firms Want Fed Payment Systems Access—and Banks Are Resisting</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto Firms Want Fed Payment Systems Access—and Banks Are Resisting\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-30 08:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/crypto-firms-want-fed-payment-systems-accessand-banks-are-resisting-11630143002?mod=markets_lead_pos7><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Efforts by the new breed of financial entities, if successful, could create more competition for traditional banks.\n\nWASHINGTON—Cryptocurrency companies want to tap into the Federal Reserve payments ...</p>\n\n<a href=\"https://www.wsj.com/articles/crypto-firms-want-fed-payment-systems-accessand-banks-are-resisting-11630143002?mod=markets_lead_pos7\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","COIN":"Coinbase Global, Inc."},"source_url":"https://www.wsj.com/articles/crypto-firms-want-fed-payment-systems-accessand-banks-are-resisting-11630143002?mod=markets_lead_pos7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183580051","content_text":"Efforts by the new breed of financial entities, if successful, could create more competition for traditional banks.\n\nWASHINGTON—Cryptocurrency companies want to tap into the Federal Reserve payments systems that traditional banks use to move money around quickly. The banks are pushing back.\nThe companies include Avanti Bank, which aims to provide custody services for institutional investors in cryptocurrencies, and Kraken, a cryptocurrency exchange platform. They say direct access to the Fed’s payment systems would allow them to more quickly and cheaply process orders from customers buying and selling digital assets. Currently they must partner with traditional banks that have accounts with the Fed.\nTraditional banks say the newer financial firms are supervised relatively lightly and lack the internal controls needed to ensure against money laundering and other illicit activities—concerns that regulators have expressed about the crypto industry more broadly. And they say the firms are riskier because they aren’t insured by the Federal Deposit Insurance Corp.\n“It is reasonable to expect that such applicants will pose heightened risks regarding matters of anti-money-laundering, cybersecurity and consumer protection, as well as safety and soundness,” the Bank Policy Institute, which represents large banks, and the Independent Community Bankers of Americawrote in a letter to the Fedlast month.\nAvanti and Kraken, which both have “special purpose” bank charters in Wyoming, say they have all the same compliance, controls and supervisory requirements of traditional banks. The only U.S. bank regulator that has a supervisory exam manual for crypto is in Wyoming, they say.\nIf they have their way on access to the Fed’s payment systems, that could encourage more firms to follow their example, introducing more competition for banks.\n“It has the potential to reduce banks’ traditional role as gatekeepers and toll collectors for payment flows that are likely to grow over time,” said Jonah Crane, a partner at Klaros Group, an advisory and investment firm.\nLast year, the central bank processed about $900 trillion in payments on its systems. These ranged from small bank-to-bank payments such as direct deposits or automatic bill payments to large wire transfers between financial institutions.\nThe struggle over access to the Fed’s payment systems also reflects incumbent banks’ concerns about the potential for competition from larger tech companies, such asFacebookInc.and Google parentAlphabetInc.,which don’t face the same level of federal bank regulation.\n“They have some reason to be paranoid,” said Eugene Ludwig, a former comptroller of the currency, who was responsible for the regulation of large national banks.\nFor example, Diem Association, which is backed by Facebook and 25 other members, has said it is developing a blockchain-based payment network that will be faster and cheaper than existing systems while protecting consumers and providing safeguards against financial crime.\nDiem is partneringwith a Fed-regulated bankon the project. But if other tech companies got direct access to the Fed’s payment systems, they may not need to take the additional step of partnering with established banks, according to banking lawyers and former regulators.\nRegulators are also concerned that some types of crypto activities could pose risks to financial stability if they grow big enough. For example, some officials worry that so-called stablecoins—a form of digital currency pegged to the value of the dollar and other traditional currencies—could be susceptible to the kinds of runs that affect banks and mutual funds in a crisis.\nFed regulators are seeking feedback from the industry on a set of proposed principles for regional Fed banks to consider when evaluating applications for access to the payment systems from nontraditional banks. Among them: whether strains at the institution may be transmitted to other segments of the financial system in times of stress.\nThe Fed suggested that federally insured banks already are likely in compliance with the guidelines. Firms that aren’t “may require more extensive due diligence,” the Fed said.\nIn recent years, startup financial firms have benefited from the issuance of new types of charters at the state level, and approval to operate as trust banks at the federal level. While full-service banks typically engage in three core activities—deposit taking, lending and payments—these nontraditional institutions offer only some of these services. They generally aren’t allowed to lend to customers, but some are authorized to accept deposits while others collect fees for maintaining custody of the private digital keys for crypto customers or operate crypto exchanges.\nCaitlin Long, chief executive officer of Avanti, said granting direct access to the Fed’s payment systems to banks that cater to the digital asset sector should be welcomed because doing so would bring them under the watchful eyes of regulators.\n“The absence of action to open a direct path has pushed much of the U.S. dollar banking of the digital asset industry into the ‘shadow’ banking system, which means risks cannot be readily monitored,” shewrote in a July comment letter.\nStill, after about a year of waiting for Fed approval, Ms. Long said in an interview that her firm this month applied to be directly regulated by the central bank, a move she said should bolster its case for access to the central bank’s payment systems. If approved, her bank would also be directly subject to Fed regulation and examination.\nKraken also sought direct access to the Fed’s payment system last year and is still awaiting an answer.\nThe cryptocurrency exchange operator describes itself as just as safe as an FDIC-insured bank because it doesn’t lend out its depositors’ money and holds 100% of their cash at a correspondent bank or at the Fed, via its correspondent institution. It is also supervised by the Wyoming Division of Banking.\n“I agree these banks need to have a bank-grade supervisory and oversight program,” said David Kinitsky, chief executive of Kraken Bank, a wholly owned subsidiary of Kraken. “We do.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":19,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891788569,"gmtCreate":1628429772351,"gmtModify":1703506158804,"author":{"id":"3582694870219545","authorId":"3582694870219545","name":"kingslayeer","avatar":"https://static.tigerbbs.com/6f195ad5bfb7b1652ff0245e32ae13ea","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582694870219545","authorIdStr":"3582694870219545"},"themes":[],"htmlText":"Next year","listText":"Next year","text":"Next year","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/891788569","repostId":"1159872041","repostType":4,"repost":{"id":"1159872041","pubTimestamp":1628385224,"share":"https://ttm.financial/m/news/1159872041?lang=&edition=fundamental","pubTime":"2021-08-08 09:13","market":"us","language":"en","title":"Tesla Stock: Headed to $1,200?","url":"https://stock-news.laohu8.com/highlight/detail?id=1159872041","media":"Motley Fool","summary":"Tesla deliveries more than doubled year over year in Q2.Rising demand for electric vehicles could benefit Tesla.Investors should exercise caution when it comes to analysts' price targets.It's been a wild year for Teslastock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.In February,Piper Sandler analys","content":"<p><b>Key Points</b></p>\n<ul>\n <li>Tesla deliveries more than doubled year over year in Q2.</li>\n <li>Rising demand for electric vehicles could benefit Tesla.</li>\n <li>Investors should exercise caution when it comes to analysts' price targets.</li>\n</ul>\n<p>It's been a wild year for&nbsp;<b>Tesla</b>(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the&nbsp;<b>S&amp;P 500</b>'s 18% gain this year.</p>\n<p>But one analyst thinks the stock could take off.</p>\n<p><b>\"We still really like this stock.\"</b></p>\n<p>In February,<b>Piper Sandler</b>&nbsp;analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.</p>\n<p>Following Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.</p>\n<p>Further, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.</p>\n<p>On Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.</p>\n<p><b>So what gives?</b></p>\n<p>If shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.</p>\n<p>The issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.</p>\n<p>Investors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.</p>\n<p>While a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.</p>\n<p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock: Headed to $1,200?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock: Headed to $1,200?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-08 09:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key Points\n\nTesla deliveries more than doubled year over year in Q2.\nRising demand for electric vehicles could benefit Tesla.\nInvestors should exercise caution when it comes to analysts' price targets...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159872041","content_text":"Key Points\n\nTesla deliveries more than doubled year over year in Q2.\nRising demand for electric vehicles could benefit Tesla.\nInvestors should exercise caution when it comes to analysts' price targets.\n\nIt's been a wild year for Tesla(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.\nBut one analyst thinks the stock could take off.\n\"We still really like this stock.\"\nIn February,Piper Sandler analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.\nFollowing Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.\nFurther, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.\nOn Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.\nSo what gives?\nIf shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.\nThe issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.\nInvestors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.\nWhile a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":42,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}