Oppenheimer analyst Colin Rusch has reiterated a Buy rating on Tesla, Inc. stock with a $612.00 price target.
Colin’ price target can be seen as moderate compared to $800 price target of New Street analyst Pierre Ferragu.
Tesla has grown to be a very popular stock among Millennials, after Apple and Amazon. Tesla and Uber are currently the most valuable U.S. companies that are unfortunately not yet included in the S&P 500. These two stocks are known to be very volatile, and promised to give you the ride of your life, either going up or coming down.
Tesla and Uber will be included among other stocks in the S&P 500 when these two companies meet the guidance of S&P 500. The S&P 500 inclusion guidance dictates a company must post four quarters of profit, following Generally Accepted Accounting Principles (GAAP).
According to IBD, Apple is the number one stock held by millennials, followed by Amazon and then Tesla. Uber ranks 28 on the list. Netflix comes in at number 8 followed by AMD at number 9.
The Biggest Tesla Bull
Ark Investment founder Catherine Wood told CNBC two weeks ago that she sees Tesla surging to $6,000 within five years, a move that would put the electric-car maker in the rarified air of those other trillion-dollar companies.
“As we’re looking at other auto companies, seeing how far behind Tesla they are, we’re beginning to believe they might not lose market share, which is a huge change in our assumptions,” she said, pointing out that market share was a concern when she first predicted in February 2018 that Tesla would reach $4,000.
What is Coronavirus and how has it affected Tesla’ stock price
Tesla market cap has dropped slightly below the legendary $100B today ($98.792B atm) due to the outbreak of Coronavirus. Human to human transmission has been confirmed by China’s national health commission. As of 27 January, the Chinese authorities had acknowledged more than 2,700 cases and 56 deaths. In the past week, the number of confirmed infections has more than tripled and cases have been found in 13 provinces, as well as the municipalities of Beijing, Shanghai, Chongqing and Tianjin. The virus has also been confirmed outside China, in Hong Kong, Macau, Japan, Nepal, Singapore, South Korea, Taiwan, Thailand, the US, and Vietnam. There have not been any confirmed cases in the UK at present, with the 14 people tested for the virus all proving negative. The actual number to have contracted the virus could be far higher as people with mild symptoms may not have been detected. Modelling by WHO experts at Imperial College London suggests there could be as many as 100,000 cases, with uncertainty putting the margins between 30,000 and 200,000