Playing catchup? That's what's wrong with these so-called WS analysts. You build a model based on many parameters where you estimate the future sales and profit. Then you stick to that model and "reverse calculate" your price target based on current stock price.
This colorful clown called Dan Ives is one of the worst stock pumpers for Tesla and Apple as well. I don't know why he gets so much prime time to show off his newest colorful clothes and throwing buzz words into the ring.
He has no model. His price target are always surprisingly round numbers. $500 and now $600. What rubbish is that?
What kind of business is Tesla getting the next year that even remotely justifies the already 250x P/E? He's totally ignoring that in 4 days no one with a sane mind is going to buy a Tesla in the US as they become $7,500 more expensive.
The "new and affordable" models are cheap no frills Model Y and they have no chance against the cheap competition from hybrid and gas only cars.
Tesla Stock Now Has a $600 Price Target on Wall Street
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