There's a new biggest Tesla bull on Wall Street — and they expect the stock to surge 23% in 2020
bull on Wall Street. Jed Dorsheimer, an analyst at Canaccord Genuity, raised his price target to $515 from $375 Thursday, saying that electric vehicles will "only accelerate in 2020."
It's now the highest price target for the automaker from a major brokerage, and falls just short of the street-high price of $530 from Pierre Ferragu at New Street Research. Dorsheimer maintained his "buy" rating on Tesla. "While bears have feared demand issues as a function of tax credit expiration for Tesla, we suspect a solid Q4 combined with the robust Q3 should put these fears to rest," Dorsheimer wrote.
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