Bank of America: Cuts Tesla Price Target to $700
智通财经APP2021-05-21
Bank of AmericaAnalyst John Murphy willTesla(TSLA.US) price target lowered to $700 from $900. He said the $700 price target is based on the forecast enterprise value-to-sales ratio and enterprise value-to-EBITDA ratio, with forecasts of 15X and 89X, respectively.Murphy believes that Tesla (TSLA.US) wants to ramp up 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 expansion of production capacity at this time, and he also said Tesla's share of the Chinese market may also slip.
At the same time, according to media reports, Tesla CEO Elon Musk said today that Tesla is considering building Europe's second Gigafactory in Russia, and hopes to start business in Kazakhstan and other neighboring countries such as CIS countries as soon as possible.
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