Cybertruck Launch Could Catapult Tesla Towards $1 Trillion Market Valuation: Wedbush Analyst
Portfolio Pulse from Benzinga Neuro
Wedbush analyst Dan Ives predicts that the launch of Tesla Inc's Cybertruck could drive the company's market valuation towards $1 trillion. Ives maintains a 12-month price target of $310 for Tesla, which would bring its market cap to approximately $996 billion. The Cybertruck launch is seen as pivotal for Tesla's growth and innovation leadership. Tesla plans to deliver 10 Cybertrucks at a Texas event, with the vehicle's cost still undisclosed. Tesla's stock has surged 98% this year, recovering from a poor 2022 performance.
December 01, 2023 | 9:24 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The anticipated launch of Tesla's Cybertruck is expected to significantly boost the company's market valuation, with a potential to reach near $1 trillion according to Wedbush analyst Dan Ives. Tesla's stock has already seen a substantial increase this year.
The news of the Cybertruck launch and the analyst's positive outlook on Tesla's market valuation are likely to generate investor optimism, potentially leading to a short-term increase in Tesla's stock price. The confidence score is not at the maximum due to the unpredictability of market reactions and external factors that could influence stock performance.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100