Tesla Motors, Inc. (NASDAQ: TSLA), Amazon.com, Inc. (NASDAQ: AMZN) – Tesla gets $ 1,250 Bull Case target from Wedbush as EV market remains its world where others ‘pay rent’

Tesla Ing (NASDAQ: TSLA) is still the leader among the electric vehicle package, although competition in space is increasing, according to Wedbush Securities.

The Tesla analyst: Wedbush analyst Daniel Ives maintained his neutral rating on the carmaker and raised the 12-month price target to $ 950 from $ 715. The analyst set a bull case target of $ 1,250 which increased it from the previous $ 1000 target.

The Tesla dissertation: The Elon Musk-led automaker is now exceeding the one-million delivery threshold in 2022 and could approach five million deliveries annually by the end of the decade, if global demand for EV maintains the current pace, Ives wrote in a note on Thursday. .

“We generally believe that EVs, which today account for 3% of global car sales, could be at 5% by the end of 2021 and 10% by 2025,” he said.

Ives names Tesla’s competitors as Nio Ing (NYSE: NIO), Xpeng Inc. (NYSE: XPEV), and Li Auto Ing (NASDAQ: LI) in the major Chinese market as ‘impressive’.

“There are more than 150 carmakers aggressively following the EV event worldwide. In the EV market, we believe it’s Tesla’s world and everyone pays rent.”

Wedbush expects 40% of Tesla’s total delivery sales to come from China, followed by Europe and the US

“We believe the China growth story is worth at least $ 100 a share in a bullshit for Tesla, as this EV penetration will increase significantly over the next 12 to 18 months, coupled with major battery innovations coming from Giga 3 . ”

Other positive aspects for the carmaker in Palo Alto, California include the Biden White House and a Blue Senate. Democratic control of the Senate is, according to Ives, a ‘game changer’.

See also: Tesla achieves a $ 2T valuation over two years? Here’s what inspires Daniel Ives’ optimistic target

Increased EV tax credits and consumer incentives coupled with government support are positive for Tesla, General Motors Company (NYSE: GM), Amazon.com, Inc. (NASDAQ: AMZN) Rivian Rugby and Fisker Ing (NYSE: FSR), according to the analyst.

Tesla price action: Tesla shares closed 1.1% lower at $ 845 on Thursday and gained 0.35% in the after-hours session.

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