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    Home ยป Analysts Predict Tesla Stock Price to Surge by 70
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    Analysts Predict Tesla Stock Price to Surge by 70

    By adminJul. 3, 2024No Comments2 Mins Read
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    Analysts Predict Tesla Stock Price to Surge by 70
    Analysts Predict Tesla Stock Price to Surge by 70
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    Tesla’s second-quarter delivery volume exceeded expectations, with 444,000 vehicles delivered, surpassing analysts’ expectations of 439,000 vehicles. These results led to a 10.20% surge in TSLA shares and prompted Wedbush analyst Dan Ives to reconsider his assessment.

    Ives announced a new price target of $300 and a bull-case scenario of $400, indicating a potential 70% increase from the current price of $231.26 on Twitter. He emphasized optimism in Tesla’s demand outlook, particularly in the second half of 2025. The analyst highlighted the undervaluation of Tesla in the artificial intelligence sector, suggesting that its AI story could be valued at over $1 trillion.

    Despite a decline in deliveries in the second quarter on an annual basis, Tesla’s results improved compared to the first quarter, which was positively evaluated by Ives as a potential turning point for the company.

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    A top investor stated that a wave of cryptocurrency IPOs will enter the field for the first time.

    Following Tesla’s strong second-quarter delivery report, the company’s shares attracted attention, with discussions suggesting that the company may have reached a “escape velocity” – a term indicating a breakthrough in resistance to stock prices, leading to a sustainable upward trend.

    Elon Musk, Tesla’s CEO, further fueled optimism, warning short sellers of potential losses and suggesting that they could be “erased,” specifically mentioning figures like Bill Gates in his statement.

    With Tesla’s recent strong results, speculation has arisen that the company’s shares may exceed Ives’ price target, making the bull-case scenario increasingly likely.

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