(News Bulletin 247) – Mizuho Securities announced on Friday that it had raised its price target on Tesla from $230 to $300, while maintaining its buy recommendation on the stock.
In a note, the analyst mentions the solid control of prices enjoyed by the manufacturer of electric vehicles, but also a stock market valuation lower than that of other “disruptors” of the caliber of Nvidia.
While the chip designer is trading on the basis of a Capitalization/Revenue ratio around 19x by 2024, Tesla is only trading around 8.6x, notes the intermediary.
Mizuho also mentions a demand which tends to improve in China and which remains solid in the United States in spite of an economic situation which is becoming more delicate.
In this context, the professional says to consider Tesla as the world leader in electrification for the next decade.
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