On January 18, 2022, Credit Suisse analyst Dan Levy announced the raising of Tesla’s Price Target from $830 to $1,025 – representing a +23% increase.
Last October, the Suiss bank maintained Tesla with a Neutral rating and raised the price target from $800 to $830 regarding the Q3 Report from the company.The core thesis on the electric car manufacturer revolves around very robust growth in the coming decade, wrote analyst Dan Levy at the time.
Last month, on the Credit Suisse note, the analyst said: “We expect Tesla 4Q21 deliveries of ~290k vs. sell-side consensus 267k. With Tesla likely to be supply constrained for the foreseeable future, we expect deliveries to be a function of production. Our estimate assumes a record month for Tesla to close out the quarter, with ~155k units in December. We assume 4Q production ~288k. Lastly, we expect Tesla volume in 2022 to be a function of production, with Shanghai to serve as a potential source of upside.“
On the same note released last month, the Analyst said: “We believe a central theme for Tesla in 2022 will be its supply/demand mismatch – simply, whatever Tesla can produce, it will sell. Sell-side consensus is currently 1.3mn units, however in recent weeks buyside feedback has cited potential for 1.4-1.6mn units, a clear increase vs.
the ~920k we expect from Tesla in 2021. Shanghai could be a source of upside, as it has been largely responsible for Tesla’s positive production trends over the past 2 years amid a very efficient production ramp”