esla price target raised to $400 from $295 at Goldman Sachs
Goldman Sachs analyst Mark Delaney raised the firm's price target on Tesla to $400 from $295 and keeps a Neutral rating on the shares following last night's Battery Day. The new target is based on potential for accelerated electric vehicle adoption as well as potential margin upside from software, Delaney tells investors in a research note. Tesla last night stressed the importance of increasing battery capacity at the industry level to support clean transportation, and the company estimates that this would require about 20 terawatt hours per year, the analyst points out. To help meet this demand, Tesla announced that it will be manufacturing its own battery cells. The company believes that with its own cells it can achieve 100 gigawatt hours of capacity in 2022, and three terawatt hours by 2030, Delaney adds
