Tesla Bull Case Price Target Raised to $1,250

The upgrades just keep coming for Tesla.

This time it was from Wedbush’s analyst Dan Ives. In a note to clients, he said, “A Blue Senate is very bullish and a potential ‘game changer’ for Tesla and the overall EV sector in the U.S., with a more green-driven agenda now certainly in the cards over the next few years.”

Ives also expects Tesla to deliver more than a million vehicles in 2022. He projects they could be delivering close to five million vehicles a year by the end of 2029.

While he recognizes that there are more than 150 automakers competing for a piece of the electric vehicle market, Ives said, “…we believe it’s Tesla’s world and everyone else is paying rent.”

Tesla share are up more than 685% in the last year.

@SeekingAlpha

Electric vehicle sales have been trending upwards, especially in some European countries.

54.3% of all vehicles sold in Norway in 2020 were BEVs (battery electric vehicles.) [Source]

Electric vehicle sales in Germany tripled in 2020. [Source]

BMW plans to double their electric vehicle sales in 2021. [Source]

Mercedes-Benz triples its electric car sales, and the CEO predicts the next decade will be “transformative.” [Source]

Also in the news:

Tesla says the speedometer issue is inconsequential, and asks US regulator to disregard it. [Source]

Is Tesla clearing out S & X Inventory ahead of a model redesign? [Source]

Model Y gets 5-star safety rating from the NHTSA. [Source]