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

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Anusuya Lahiri

Thu, Jan 27, 2022, 8:25 AM 1 min read

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.