Tesla price target raised to $1,036 from $486 at Oppenheimer - InvestingChannel

Tesla price target raised to $1,036 from $486 at Oppenheimer

Oppenheimer analyst Colin Rusch raised the firm’s price target on Tesla to $1,036 from $486 and keeps an Outperform rating on the shares. While he has “misgivings” about Tesla not incorporating LiDAR into its vehicles yet, Rusch believes the learning cycles enabled by having over 1M vehicles on the road is “an extraordinary advantage” that can help Tesla’s shadow mode data collection to reach the threshold of 6B test miles being driven that he thinks is necessary to validate L4+L5 ADAS, the analyst tells investors. Rusch raised his target on the stock to reflect the assumption that Tesla’s autonomous vehicle commercialization can come “years faster than competitors,” plus equity market multiple appreciation, he noted.