A ‘comeback story for the ages’: Here’s what 4 analysts are saying about Tesla’s 4th-quarter earnings win

AP Photo/Ringo H.W. Chiu, File

Price target: $710

Rating: Neutral

Noted Tesla bull Dan Ives viewed the company’s latest report as “potentially game-changing,” as stable profitability and healthy cash flow secured Tesla’s spot as a lasting player in the EV space. The 500,000-deliveries estimate is “conservatively positive,” Ives said, and the company could deliver as many as 550,000 vehicles in 2020 and support a continued rally for the soaring stock.

“The bull party will continue as the aggressive trajectory of Giga 3 production and demand out of Shanghai look very strong out of the gate,” the analyst wrote.

Wedbush also updated its long-term bull case for the automaker, noting that Tesla shares could reach $1,000 if it can ramp up production in Shanghai and drive demand in China in the years to come. The firm’s new Tesla price target reflects heightened demand for EVs, and past fears around improving production rates are quickly fading, the note said.

“For Musk, despite all the noise over the last year and balancing a myriad of projects at Tesla (while running SpaceX and launch targets) last night completes a “comeback story for the ages” from the dark days seen last April,” the team wrote.