Bank of America: Lowers Tesla price target to $700
智通财经APP2021-05-21
Bank of AmericaAnalyst John Murphy willTesla(TSLA.US) price target lowered from $900 to $700. He stated that the target price of $700 is based on the projected ratio of enterprise value to sales and the ratio of enterprise value to EBITDA, with projected values of 15X and 89X respectively.Murphy believes that Tesla (TSLA.US) hopes to increase production at its Fremont and Gigafactories plants, but the company may not be able to easily raise low-cost capital through the stock market to support its capacity expansion. He also stated that Tesla's market share in China may decline further.
Meanwhile, according to media reports, Tesla CEO Elon Musk said today that Tesla is considering building its second Gigafactory in Europe in Russia and hopes to expand its operations in other neighboring countries such as Kazakhstan and the CIS countries as soon as possible.
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