Tesla, Inc. (NASDAQ:TSLA) price target to $465
Shares of electric car maker Tesla could jump sharply in the next year as the company starts making money more consistently, according to an analyst at Baird.
Analyst Ben Kallo reiterated his outperform rating on the stock and hiked his price target to $465 from $411. Kallo’s new 12-month price target implies a 26.8 percent upside from Wednesday’s close of $366.60.
Tesla shares rose 2.8 percent Thursday, to $376.79.
“We believe the narrative will continue to change from ‘TSLA will never make money’ to ‘TSLA can be sustainably profitable,’” Kallo said in an investor note Thursday. “The narrative on TSLA, particularly in the middle of 2018, was as negative as we have experienced in our coverage, but we believe sentiment will continue to improve as the company proves it can be self-supportive, which should drive sustained share appreciation.”
Tesla reported a surprise third-quarter profit on Oct. 24. Since then, the stock is up more than 27 percent. That quarter was its third profitable one.
“We do not believe the strong Q3 results were a ‘flash in the pan’ and think TSLA could maintain profitability,” Kallo said. “Further execution will reinforce investor belief the company can be self-supportive, which should be a positive catalyst.”
Overall, the bias in prices is: Upwards
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 330.23.
The projected upper bound is: 408.84.
The projected lower bound is: 347.77.
The projected closing price is: 378.31.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 66.2174. This is not an overbought or oversold reading. The last signal was a sell 6 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 67.28. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 66 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 114.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 1 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 5 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 10.190 at 376.790. Volume was 26% below average (neutral) and Bollinger Bands were 42% narrower than normal.
Open High Low Close Volume___
370.150 377.440 366.750 376.790 7,365,854
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 360.62 321.84 312.66
Volatility: 30 65 72
Volume: 7,014,689 8,945,919 9,216,134
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
TESLA INC is currently 20.5% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect very strong flows of volume into TSLA.O (bullish). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 34 periods.