- Tesla Inc (NASDAQ: TSLA) shares received a target price increase from $ 135 to $ 155 by JPMorgan. Here are the details.
Tesla Inc (NASDAQ: TSLA) shares received a target price increase from $ 135 to $ 155 by JPMorgan. And JPMorgan analyst Ryan Brinkman kept Tesla’s underweight rating.
Brinkman has raised estimates to account for Tesla’s higher-than-expected shipments in the first quarter. And now Brinkman sees supply growth and has raised the forecast for 2021 to 800,000 from 765,000.
Back in December 2020, Brinkman advised customers not to increase their stakes in Tesla in order to get closer to its weight in the S&P 500 around the time Tesla was included in the benchmark.
In January, Brinkman raised his Tesla price target from $ 125 to $ 135. At the time, Brinkman expected a backlash on the softer-than-expected Tesla Q4 results. The fourth quarter results also lowered the granularity of Tesla’s supply recommendations.
It is worth noting that Brinkman’s target price is significantly lower. than the target price of $ 1000 it was recently nominated by Wedbush analyst Dan Ives.
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