Tesla (NASDAQ: TSLA) bull Wedbush Securities has raised its price goal on the automaker’s stock from $175 to $200 following an “epic” Earnings Call last night.
“Musk and Co. delivered in epic fashion with demand that’s currently 2x production coming out of the gates in 2023 and laying out a 1.8 million delivery bogey for the yr,” Analysts Dan Ives and John Katsingris said, “which was exactly what the bull desired to hear.”
Wedbush was extremely pleased to listen to Tesla reiterate its 1.8 million unit delivery goal for the yr, which might keep with its annual goal of fifty percent growth annually.
LIVE BLOG: Tesla Q4 and Full Yr 2022 earnings call
“The bears (for now) will return into hibernation mode,” Wedbush wrote.
Throughout the call, Tesla outlined a powerful financial status with loads of money available, a method the corporate believes will keep it freed from drama if and when a serious recession occurs.
One of the vital key concerns for Tesla bulls moving forward was whether the corporate would confront the expectation that automotive margins would drop after prices on its vehicles were cut significantly earlier this month. Tesla said in its Shareholder Deck released before the decision:
Tesla soared in pre-market trading this morning, spiking over 10 percent by the point the markets opened at 9:30.
Tesla opened at $158.60 and is up 9.8 percent at 9:31 AM on the East Coast.