Source: Benzinga Feeds
Even the most skeptical Tesla Inc (NASDAQ: TSLA ) analysts have conceded the company’s long-term potential. Still, some continue to sell at present valuation. The Rating UBS analyst Patrick Hummel maintained a Sell rating on Tesla with a price target raised from $160 to $410. The Thesis With production volumes poised to double in the next two years, Hummel expects Tesla to become the world’s most profitable automaker. “We take a more bullish fundamental view on Tesla’s technology and cost lead in hardware and software,” Hummel wrote in a Thursday report. By his account, Shanghai Model 3 production and the likelihood of strong Model Y success should drive 300-basis-point gross margin accretion in Tesla’s auto business, and Model Y and Cybertruck sales could yield a … Full story available on Benzinga.com
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