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2023-12-26

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Tesla Can Rise to $1 Trillion Market Value in 2024, Analyst Says

Tesla Inc. is poised to join the trillion-dollar club next year, defying growing Wall Street skepticism regarding electric vehicle demand, according to Wedbush analyst Dan Ives. The longtime bull on T

Tesla Can Rise to $1 Trillion Market Value in 2024, Analyst Says

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The longtime bull on T","content":"<html><head></head><body><p>Tesla Inc. is poised to join the trillion-dollar club next year, defying growing Wall Street skepticism regarding electric vehicle demand, according to Wedbush analyst Dan Ives.</p><p>The longtime bull on Tesla said the bear case on the company was that demand was eroding at a time when competition around the world was increasing.</p><p>“Instead, Musk made a poker move for the ages and cut prices globally with China front and center to catalyze volumes/units which should now impressively be in the 1.8 million range for 2023,” the prolific analyst wrote in a note to clients.</p><p>Ives reiterated the outperform rating he’s had on the stock for years, raising his 12-month price target to $350 from $310. The new target implies a market capitalization of $1.11 trillion at current share counts.</p><p>At Thursday’s closing price of $254.50, Tesla’s market cap of $809.14 billion made it the U.S. seventh-most valuable company.</p><p>Ives said Tesla has navigated the “Category 5 storm in China well,” as he believes fourth-quarter volumes there will hit another record as demand steadies.</p><p>He also believes that gross margins, which have been a concern on Wall Street given recent price cuts, have now stabilized, and should start moving up into 2024.</p><p>“While overall EV demand has clearly moderated globally we are still in the early days of this massive transformation with Tesla leading the way as we estimate by 2030 roughly 20% of autos will be EV based,” Ives wrote. “Also noteworthy is that as Detroit stalwarts GM and Ford among others appear to be tempering the EV transformation, Tesla is now doubling down with Cybertruck and we expect another sub $30k vehicle to be announced over the next 6 to 9 months.”</p><p>Tesla’s stock has rocketed 106.6% year to date through Thursday, while rival General Motors Co. shares have gained 7.8% and Ford Motor Co.’s stock has tacked on 6.1%. The S&amp;P 500 index SPX has advanced 23.6% this year.</p><p>Ives’ bullish call comes as China’s state media reported that Tesla’s plans to produce energy-storage batteries in China have moved forward with a signing ceremony for the land acquisition. Construction is scheduled to start next year, Xinhua News Agency said.</p></body></html>","source":"mwatch_stock","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 Can Rise to $1 Trillion Market Value in 2024, Analyst Says</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 Can Rise to $1 Trillion Market Value in 2024, Analyst Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-25 23:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/teslas-stock-can-rise-to-1-trillion-market-value-in-2024-analyst-says-301b141a?mod=newsviewer_click><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla Inc. is poised to join the trillion-dollar club next year, defying growing Wall Street skepticism regarding electric vehicle demand, according to Wedbush analyst Dan Ives.The longtime bull on ...</p>\n\n<a href=\"https://www.marketwatch.com/story/teslas-stock-can-rise-to-1-trillion-market-value-in-2024-analyst-says-301b141a?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4555":"新能源车","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2063271972.USD":"富兰克林创新领域基金","BK4585":"ETF&股票定投概念","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0823414478.USD":"法巴经典能源转换基金","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","BK4527":"明星科技股","LU0082616367.USD":"摩根大通美国科技A（dist）","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","BK4588":"碎股","BK4550":"红杉资本持仓","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - 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The new target implies a market capitalization of $1.11 trillion at current share counts.At Thursday’s closing price of $254.50, Tesla’s market cap of $809.14 billion made it the U.S. seventh-most valuable company.Ives said Tesla has navigated the “Category 5 storm in China well,” as he believes fourth-quarter volumes there will hit another record as demand steadies.He also believes that gross margins, which have been a concern on Wall Street given recent price cuts, have now stabilized, and should start moving up into 2024.“While overall EV demand has clearly moderated globally we are still in the early days of this massive transformation with Tesla leading the way as we estimate by 2030 roughly 20% of autos will be EV based,” Ives wrote. “Also noteworthy is that as Detroit stalwarts GM and Ford among others appear to be tempering the EV transformation, Tesla is now doubling down with Cybertruck and we expect another sub $30k vehicle to be announced over the next 6 to 9 months.”Tesla’s stock has rocketed 106.6% year to date through Thursday, while rival General Motors Co. shares have gained 7.8% and Ford Motor Co.’s stock has tacked on 6.1%. The S&P 500 index SPX has advanced 23.6% this year.Ives’ bullish call comes as China’s state media reported that Tesla’s plans to produce energy-storage batteries in China have moved forward with a signing ceremony for the land acquisition. Construction is scheduled to start next year, Xinhua News Agency said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":313,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":36,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}