(News Bulletin 247) – Bank of America announced on Thursday that it had raised its price target on Tesla from $225 to $300 due to an upward revision of its valuation multiples applied to the action.
The research department, which maintains its ‘neutral’ opinion on the title, now says it is relying on an enterprise value / turnover ratio of 8x in order to value the manufacturer of electric vehicles, against 7x so far .
The analyst also indicates that he is now basing himself on an enterprise value / EBITDA ratio of 45x for 2023, and no longer 38x, to establish his calculations on the group.
Even revised upwards, its new price target only shows an upside potential of around 6%.
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