Bernstein analyst Toni Sacconaghi notes that investors have long debatedTeslaWhether it is a car company or a technology company. He noted that Tesla delivered a vehicle at a valuation of more than 50 times that of a traditional car company, saying, "There's no doubt that Tesla hasn't been valued as a car company." Analysts believe that one rationale for Tesla's high valuation is its unique growth profile, which stands out even among tech companies. Still, he believes, Tesla still looks very expensive relative to high-growth tech companies, given its profit margin situation. Analysts have updated their 2050 DCF model and updated their Tesla price target to $300.
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