(Bloomberg) Tesla Inc is in a solid position heading into next year, with sound drivers including growing Chinese demand and new factory openings in the US and Germany.
In a note, Daniel Ives analyst stated that the shares of the EV-maker could grow almost 30% over the next 12 months.
Ives further expects component shortages to ease in 2022, giving Tesla an opportunity to meet the surging demand in China as new factories in Austin, Texas, and Berlin resolve global production constraints.
Ives indicated that the linchpin to the bull forecast on Tesla remains China, which is likely to account for 40% of deliveries for the EV manufacturer in 2022.
Tesla shares have performed well in 2021, with a 55% gain boosted the company’s market value over the $1 trillion mark.
Wedbush’s Ives expects that by the end of 2022, Tesla will have the capacity to make nearly 2 million cars yearly from almost 1 million today.
TSLA up +1.29%, pre-market trading.
