In a friendly market environment, Tesla shares once again hit a new all-time high and a new closing record on Wednesday. At the end of the trading day, it stood at $ 755.89, after having previously reached prices of up to $ 774. A new assessment by an analyst who was previously rather cautious at Tesla may have contributed to the further increase: Adam Jonas from Morgan Stanley raised the price target for the share to $ 810. That is 50 percent more than before and at the same time represents the current highest goal among the big Wall Street companies.
S&P inclusion arouses interest from new investors
As a reason for the now more optimistic forecast, the analyst cites the Tesla delivery figures for the fourth quarter of 2020, which would have been slightly above market expectations; Excerpts from his study were published on Twitter. The most recent capital increase of $ 5 billion in December 2020 is also positive.
The third factor mentioned by Jonas has nothing to do with Tesla’s business, but with the demand for the stock: since it was included in the S&P 500 index, his team has received increasing calls from investors for whom Tesla and electric cars in general are largely uncharted territory he writes. He has been asked several times in the past few days to send customers all research material on these topics from the past two years. The Tesla share seems to be interesting not only for those funds that directly replicate the S&P 500 and therefore have no choice at all, but also for active managers who try to achieve better performance with their own analyzes and investment decisions Index average.
Even in the early days of Tesla on the stock exchange, Jonas at Morgan Stanley was very optimistic for the company and was even referred to as a cheerleader, reports the blog Electrek. He later became more cautious and in between published a price target of just $ 10 for Tesla. This only applied to an extremely negative scenario, but the reports about it were enough to make Jonas fall out of favor with some fans.
New price leeway for Tesla shares
Since the end of last year, however, according to Electrek, the analyst has again recommended the share as a buy and named a price target of $ 510, which was exceeded shortly afterwards – professional Tesla observers often have to struggle with this problem. Nevertheless, Jonas stuck to his purchase recommendation, and his new target, which has now been published, leaves at least some leeway again. At the same time, it is currently the highest on Wall Street. With Goldman Sachs, another important investment bank had raised its Tesla price target in early December 2020 to the then highest value of 780 dollars, which was almost reached again on Wednesday.