Elon Musk visiting China is a sign Tesla is 'playing nice' with Beijing and its stock will outperform this year, Wedbush says
Elon Musk visiting China is a sign that Tesla is aiming to get in the good graces with Beijing — and it could be another event that propels its stock to outperform this year, Wedbush said.
Musk is also expected to visit to Tesla's Shanghai factory, which will be essential, Wedbush added, as the plant is a major producer of vehicle units and is one of the company's"key advantages" as it faces competition from rivals like Nio and BYD. Analysts predicted that Tesla stock would outperform this year, rising 11% from current levels to notch $215 a share by the end of 2023.
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