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2021-03-10

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3 Reasons Tesla Stock Is Rising Tuesday

A Tesla fan got evenmore bullishon Tuesday, despite the stock’s recent drop. Tesla shares are up in premarket trading, but an upbeat take from the analyst isn’t the only reason shares are on the move.New Street Research analyst Pierre Ferraguis a longtime Tesla bull. But that doesn’t mean he always rates shares Buy. He is willing to downgrade the stock to Hold when prices run ahead of what he believes is fair.The third reason Tesla shares are rising is China. Tesla delivered about 18,300 cars t

3 Reasons Tesla Stock Is Rising Tuesday

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KLS
·2021-03-10
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Tesla shares are up in premarket trading, but an upbeat take from the analyst isn’t the only reason shares are on the move.New Street Research analyst Pierre Ferraguis a longtime Tesla  bull. But that doesn’t mean he always rates shares Buy. He is willing to downgrade the stock to Hold when prices run ahead of what he believes is fair.The third reason Tesla shares are rising is China. Tesla delivered about 18,300 cars t","content":"<p>A&nbsp;Tesla&nbsp;fan got evenmore bullishon Tuesday, despite the stock’s recent drop. Tesla shares are up in premarket trading, but an upbeat take from the analyst isn’t the only reason shares are on the move.</p>\n<p>New Street Research analyst&nbsp;Pierre Ferraguis a longtime Tesla (ticker: TSLA) bull. But that doesn’t mean he always rates shares Buy. He is willing to downgrade the stock to Hold when prices run ahead of what he believes is fair.</p>\n<p>Ferragu rated Tesla stock Buy from mid-2018—when he launched coverage of the stock—until, essentially, mid-2020, when shares were at about $180. He was Hold-rated for a couple of months before upgrading shares to Buy around last October. But then Tesla stock ran to more than $600—from above around $400—in the blink of an eye. That 50% gain prompted another downgrade to Hold.</p>\n<p>Now Ferragu is saying buy Tesla again. And he raised his price target to $900 a share from $578.</p>\n<p>“As much as the market severely corrected the recent excesses of optimism reflected in Tesla’s valuation, our recent work strengthened our confidence about the solid outlook for the company in the next 2 years,” wrote Ferragu. “Tesla will be in a position to deliver 2 [million] units in 2023 and deliver earnings of $12, more than 50% above current expectations.” With better-than-expected earnings coming, according to analysts, he believes the stock will trade for the higher end of his expected price-to-earnings ratio range of 50 times to 100 times.</p>\n<p>“Tesla [is] the #1 stock we recommend buying in this pullback.”</p>\n<p>The pullback hasbeen brutal. Coming into Tuesday, theNasdaq Compositeindex, which is home to many richly valued, high-growth stocks like Tesla, was down more than 11% from its February high. Tesla stock was down more than 37% from its January high.</p>\n<p>Inflation fears are a big reason for the drop in Tesla and other tech stocks. Higher inflation means higher interest rates, which are problematic for growth stocks in two ways. First, a rise in rates makes funding growth more expensive. Second, high-growth companies generate most of their cash flow and potential dividends far in the future. That cash flow is relatively less attractive as investors can earn more interest right now.</p>\n<p>Inflation fears will continue to affect Tesla stock for a while. That makes Wednesday’s inflation data a little higher stakes than usual. Economists expect prices—excluding food and energy—to be 0.2% higher in February compared with January. (Economists focus on inflation excluding food and energy to avoid commodity price swings in the numbers.)</p>\n<p>The third reason Tesla shares are rising is China. Tesla delivered about 18,300 cars there in February, more that the company delivered in January. That is an achievement considering the Lunar New Year holiday dentedFebruary -deliveryfigures at companies such asNIO(NIO) andXPeng(XPEV) “We would characterize these February results as quite impressive and ahead of Street expectations,” Wedbush analystDan Ivestells<i>Barron’s</i>. “From a run-rate perspective, Tesla is on track to be on a [200,000-plus] unit trajectory in China for the year which remains a linchpin for the company hitting its [750,000 to 800,000] annual numbers for the year.”</p>\n<p>Tesla stock rose 19.6% Tuesday. It’s the largest percentage jump since shares jumped 19.9% on Feb. 3, 2020. That jump was the start to Tesla’s incredible year. The stock finished up about 740%.</p>\n<p>The reason for the February 2020 jump washard to find. This time the upgrade certainly helped. So did the bounce in tech stocks. So do the China numbers. The Nasdaq Composite rose 3.7%, bouncing back after the recent selloff. TheS&amp;P 500andDow Jones Industrial Averagerose 1.4% and 0.1%, respectively.</p>\n<p>With Ferragu’s upgrade, about 33% of analysts covering Tesla rate shares Buy. The average Buy-rating ratio for stocks in the Dow is about 60%. Analysts always have trouble reconciling Tesla’s valuation with other car companies.General Motors (GM),for instance, trades for a single-digit PE ratio. Tesla trades for a triple-digit PE ratio. Tesla, of course, grows much faster than the broader automotive industry.</p>","source":"lsy1601382232898","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>3 Reasons Tesla Stock Is Rising Tuesday</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\">\n3 Reasons Tesla Stock Is Rising Tuesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-10 17:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-stock-up-upgrade-china-51615300696?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A Tesla fan got evenmore bullishon Tuesday, despite the stock’s recent drop. Tesla shares are up in premarket trading, but an upbeat take from the analyst isn’t the only reason shares are on the move....</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-stock-up-upgrade-china-51615300696?mod=RTA\">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.barrons.com/articles/tesla-stock-up-upgrade-china-51615300696?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197320396","content_text":"A Tesla fan got evenmore bullishon Tuesday, despite the stock’s recent drop. Tesla shares are up in premarket trading, but an upbeat take from the analyst isn’t the only reason shares are on the move.\nNew Street Research analyst Pierre Ferraguis a longtime Tesla (ticker: TSLA) bull. But that doesn’t mean he always rates shares Buy. He is willing to downgrade the stock to Hold when prices run ahead of what he believes is fair.\nFerragu rated Tesla stock Buy from mid-2018—when he launched coverage of the stock—until, essentially, mid-2020, when shares were at about $180. He was Hold-rated for a couple of months before upgrading shares to Buy around last October. But then Tesla stock ran to more than $600—from above around $400—in the blink of an eye. That 50% gain prompted another downgrade to Hold.\nNow Ferragu is saying buy Tesla again. And he raised his price target to $900 a share from $578.\n“As much as the market severely corrected the recent excesses of optimism reflected in Tesla’s valuation, our recent work strengthened our confidence about the solid outlook for the company in the next 2 years,” wrote Ferragu. “Tesla will be in a position to deliver 2 [million] units in 2023 and deliver earnings of $12, more than 50% above current expectations.” With better-than-expected earnings coming, according to analysts, he believes the stock will trade for the higher end of his expected price-to-earnings ratio range of 50 times to 100 times.\n“Tesla [is] the #1 stock we recommend buying in this pullback.”\nThe pullback hasbeen brutal. Coming into Tuesday, theNasdaq Compositeindex, which is home to many richly valued, high-growth stocks like Tesla, was down more than 11% from its February high. Tesla stock was down more than 37% from its January high.\nInflation fears are a big reason for the drop in Tesla and other tech stocks. Higher inflation means higher interest rates, which are problematic for growth stocks in two ways. First, a rise in rates makes funding growth more expensive. Second, high-growth companies generate most of their cash flow and potential dividends far in the future. That cash flow is relatively less attractive as investors can earn more interest right now.\nInflation fears will continue to affect Tesla stock for a while. That makes Wednesday’s inflation data a little higher stakes than usual. Economists expect prices—excluding food and energy—to be 0.2% higher in February compared with January. (Economists focus on inflation excluding food and energy to avoid commodity price swings in the numbers.)\nThe third reason Tesla shares are rising is China. Tesla delivered about 18,300 cars there in February, more that the company delivered in January. That is an achievement considering the Lunar New Year holiday dentedFebruary -deliveryfigures at companies such asNIO(NIO) andXPeng(XPEV) “We would characterize these February results as quite impressive and ahead of Street expectations,” Wedbush analystDan IvestellsBarron’s. “From a run-rate perspective, Tesla is on track to be on a [200,000-plus] unit trajectory in China for the year which remains a linchpin for the company hitting its [750,000 to 800,000] annual numbers for the year.”\nTesla stock rose 19.6% Tuesday. It’s the largest percentage jump since shares jumped 19.9% on Feb. 3, 2020. That jump was the start to Tesla’s incredible year. The stock finished up about 740%.\nThe reason for the February 2020 jump washard to find. This time the upgrade certainly helped. So did the bounce in tech stocks. So do the China numbers. The Nasdaq Composite rose 3.7%, bouncing back after the recent selloff. TheS&P 500andDow Jones Industrial Averagerose 1.4% and 0.1%, respectively.\nWith Ferragu’s upgrade, about 33% of analysts covering Tesla rate shares Buy. The average Buy-rating ratio for stocks in the Dow is about 60%. Analysts always have trouble reconciling Tesla’s valuation with other car companies.General Motors (GM),for instance, trades for a single-digit PE ratio. Tesla trades for a triple-digit PE ratio. Tesla, of course, grows much faster than the broader automotive industry.","news_type":1},"isVote":1,"tweetType":1,"viewCount":209,"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":4,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":3759656,"commentId":"3759656","gmtCreate":1615371269158,"gmtModify":1680779820074,"authorId":3551655093075927,"author":{"id":3551655093075927,"idStr":"3551655093075927","authorId":3551655093075927,"name":"KLS","avatar":"https://static.tigerbbs.com/60fe00969bbce4cfecf0d17a38c77628","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":323479107,"objectIdStr":"323479107","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"pls like n <u>comment</u>","text":"pls like n <u>comment</u>","html":"pls like n <u>comment</u>","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"hasMoreComment":true,"orderType":2}