Tesla's stock price surged 740% in 2020. Here's where 5 analysts say the shares are headed next.
- Tesla's stock price skyrocketed 740% in 2020, but Wall Street is split on where the shares will move next.
- JPMorgan sees the electric vehicle company plummeting 87% to $90 a share in 2021. Meanwhile Goldman Sachs has a 12-month price target of $780 for
- Here are five Tesla price targets from Wall Street's top strategists.
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2020 was a wild ride Tesla's stock. It opened on January 2 2020 at $84.90 (adjusted for the stock split) and will close 2020 above $700-that's a gain of over 740%. Here's where five analysts say Tesla shares are headed in 2021.
JPMorgan analysts rate the stock "underweight," with a price target of $90, an 87% drop from current levels.
Goldman SachsGoldman Sachs has a "neutral" rating for Tesla and 12-month price target of $780. On December 2, analysts led by Mark Delaney raised the price target to $780 from $455, telling clients: "We believe that the shift toward battery electric vehicle (EV) adoption is accelerating and will occur faster than our prior view."
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Wedbush SecuritiesWedbush's Dan Ives rates the stock "neutral," with a 12-month price target of $715, and a bull case price of $1000.
"Heading into year-end and 2021, we are seeing a major inflection of EV demand globally with our expectations that EV vehicles ramp from ~3% of total auto sales today to 10% by 2025," Ives said on Dec 29 in a note to clients. "We believe this demand dynamic will disproportionately benefit the clear EV category leader Tesla over the next few years especially in the key China region which we believe could represent ~40% of its EV deliveries by 2022 given the current brisk pace of sales."
Garrett Nelson, senior equity analyst at CFRA Research senior equity strategist has a "hold" rating on Tesla and a 12-month price target of $750."After a YTD run-up of over 700%, we think future growth expectations are now appropriately bullish and after a multi-quarter run of positive news, we struggle to identify the next catalyst in the story. In early January,
RBC Capital MarketsRBC Capital
"Our $339 price target takes a look at EV/sales- and EV/EBITDA-based multiple approaches and probability weights them (65% base, 17.5% each for upside/downside)," analysts led by Joseph Spak said on Dec 22.
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