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Here's Why JPMorgan Bumped Up Tesla's Price Target By 10.2% Post Q4 Results

In This Article:

  • JPMorgan analyst Ryan Brinkman raised the price target on Tesla Inc (NASDAQ: TSLA) to $325 from $295 and reiterated an Underweight rating on the shares. The price target implies a downside of 65.3%.

  • Tesla reported better than expected Q4 results, featuring stronger than consensus revenue, margin, and free cash flow, Brinkman notes.

  • The company, however, said it does not plan to launch any new models in 2022 "despite a bevy of planned new battery-electric models from major and start-up automakers," adds the analyst.

  • He notes that this implies the Roadster and Semi, initially slated for launch in 2020, and the Cybertruck, initially slated for launch in 2021, will be delayed until at least 2023.

  • Price Action: TSLA shares traded lower by 5.38% at $887.00 on the last check Thursday.

Latest Ratings for TSLA

Jan 2022

Citigroup

Maintains

Sell

Jan 2022

Wells Fargo

Maintains

Equal-Weight

Jan 2022

JP Morgan

Maintains

Underweight

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