Another financial services company has decided to cover and promote Tesla stock.
We don't cover Tesla stock very often at InsideEVs. We'll be very honest and say that we aren't exactly financial experts. And, we continue to clarify that we have no vested interest. However, as the tables are clearly turning with the company's more recent successes and profitability, more financial outfits are reporting on the stock. Last week, analysts at Wedbush began coverage of Tesla Inc. (TSLA) and had nothing but positives to report.
Wedbush is headed up by Dan Ives. The firm put a $440 price target on shares, which represents a 16-percent increase above last Thursday's closing price. The firm claims:
has the most impressive product roadmap out of any technology/auto vendor around.
The report goes on to label Tesla as a game changer and a top force pushing electric car adoption over the next ten years. Still, Wedbush points out that the Silicon Valley automaker is up against adversity related to Model 3 production challenges and constraints, as well as continual regulatory issues. Even so, the analyst adds:
... overall seeing the forest through the trees we believe Tesla has the most innovative product roadmap in the technology space over the next 5 to 10 years.
Wedbush is looking ahead at Tesla's upcoming opportunity to further ramp Model 3 production and sales into 2019, which should continue its momentum of success and profitability.
According the Wedbush website:
Since our founding in 1955, Wedbush Securities has been a leader in the financial industry providing our clients with a wide range of services; including institutional sales, correspondent clearing services, equity research, corporate and municipal finance, equity market making, fixed income trading, prime brokerage, and wealth management.
The company currently operates over 100 offices, lays claim to more than 90 awards, and contributes to over 85 charities.