Tesla Shares Could Rise 30% Next Year on China Demand, Wedbush Says

Shares in the electric-vehicle maker could gain nearly 30% over the next 12 months, analyst Daniel Ives wrote in a note.

(Bloomberg) — Tesla Inc. is in a strong position heading into 2022, with catalysts including robust Chinese demand and new factory openings in the U.S. and Germany, according to Wedbush.

Shares in the electric-vehicle maker could gain nearly 30% over the next 12 months, analyst Daniel Ives wrote in a note. He said he expects component shortages to ease next year, allowing Tesla to better meet growing demand in China, while new factories in Austin, Texas, and Berlin should alleviate global production bottlenecks.