Wedbush Raises Tesla Price Target To $360 As Stock Splits 3-For-1 via insideevs.com
Following the annual meeting of Tesla stockholders on August 4, when investors voted in favor of a 3-for-1 stock split, TSLA shares will start trading today for a third of their August 24 value.
Wedbush managing director Dan Ives, one of the top Wall Street analysts covering Tesla, said he's raising the price target on Tesla from $333 a share to $360 a share post-split. In a post on Twitter, he explained that improved production out of Gigafactory Shanghai during the September quarter was as one of the main reasons for the increase.. The upgrades are expected to increase local Model Y production to 14,000 units a week and Model 3 production to 7,700 units a week.