Bank of America: Lowered Tesla Price Target to $700

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Bank of America: Lowered Tesla Price Target to $700

智通财经APP2021-05-21

Bank of AmericaAnalyst John Murphy willTesla(TSLA.US) target price lowered from $900 to $700. He said that the target price of $700 is based on the forecast ratio of enterprise value to sales and the ratio of enterprise value to EBITDA, with forecast values of 15X and 89X respectively.

Murphy believes that Tesla (TSLA.US) wants to increase production at its Fremont and Gigafactories factories, 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 present, and he also said that Tesla's market share in China may also decline.

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 launch business in other neighboring countries such as Kazakhstan and CIS countries as soon as possible.

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