Today June 10th 2020, Wedbush analyst Daniel Ives raised the price target on Tesla Inc. (NASDAQ: TSLA) to $1,000.00 from $800. Ives price target raising is base on strong China demand for the company also potentially game changing battery update from the upcoming Tesla Battery Day event.
Ives reiterated his neutral rating on Tesla, but also increasing his “bull case” target to $1,500 from $1,350.
Recently, China Association of Automobile Manufacturers’ (CPCA) report, Tesla had sold 11,095 China-Made Model 3 in May (China only), up 205% month over month. Also the number is not including Model S and X which manufacture in Fremont Factory in California.
Also base on the CBEA report, Tesla Giga Shanghai produced 11,501 units (May 2020) of the China-Made Model 3, including the standard range plus and long range RWD.