Connect with us

Hi, what are you looking for?

CleanTechnica

Cars

Investment Firm Newly Covering Tesla: “One of the most dynamic technology innovators over the last 30 years”

Wedbush Securities started covering Tesla stock last week. It’s coverage led off with this comment from analyst Daniel Ives: “Tesla has evolved into one of the most dynamic technology innovators over the last 30 years and, in our opinion, has put itself into an esteemed category of companies such as Apple and Amazon that have revolutionized consumer buying habits and behaviors over the last decade.”

By Steve Hanley & Zach Shahan

Wedbush Securities started covering Tesla stock last week. It’s coverage led off with this comment from analyst Daniel Ives: “Tesla has evolved into one of the most dynamic technology innovators over the last 30 years and, in our opinion, has put itself into an esteemed category of companies such as Apple and Amazon that have revolutionized consumer buying habits and behaviors over the last decade.”

Ives continued by calling Tesla “a technology titan over the coming years despite the near-term turbulence. Seeing the forest through the trees, we believe Tesla has the most innovative product road map in the technology space over the next 5 to 10 years,” Ives said. He has set a price target of $440 per share according to CNBC. It closed at $365.71 on Friday.

Ives didn’t say whether those new buying habits include the end of franchise dealer laws that prevent Tesla from selling directly to consumers in many US states, but a good guess is those archaic laws will be swept away within 3 years, or 5 years at the worst.

We wrote an article focused on Tesla’s innovation obsession a couple of months ago. As you can see from the screenshot above, it was inspired in part from a simple tweet … by Elon Musk. We had a rather popular article going around that highlighted the threat Tesla is posing to major German automakers. In a few more words, it basically explained that Tesla is out-innovating the competition. Musk summarized the point well for us with his tweet, which is appropriate since we were summarizing his company’s leadership and the disruption it is initiating.

Wedbush Securities isn’t the only money manager putting its finger on this point. In fact, Tesla has passed up every automaker except Toyota and Volkswagen in market cap. It routinely receives bullish words of praise from the likes of Ron Baron, Tim DraperGene MunsterBaird & Co.Baillie Gifford, and other notable rich people.

future innovation

The important point with this tech disruption is that it’s focused on the protection of human society and the Earth as we know it. This is what drives Tesla, including thousands or tens of thousands of employees at the California company.

Wedbush Securities and other investment firms may be eager to make an extra billion or two on Tesla. The rest of us are eager to see our planet protected by Tesla’s rapid innovation and relentless growth until the EV revolution is complete.

Related Stories:

Tesla Passes Daimler In Market Cap — Volkswagen Next?

Tesla Model 3 Embarrassing Ford Mustang & BMW 3/4 Series — 8 Charts

18 Nasty Tesla Charts

 
 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

Steve writes about the interface between technology and sustainability from his home in Florida or anywhere else The Force may lead him. 3000 years ago, Socrates said, "The secret to change is to focus all of your energy not on fighting the old but on building the new." Perhaps it's time we listened?

Comments

You May Also Like

Cars

Following what many considered a rough 2022 for Tesla, investors are warming up to the idea of a big 2023 for the automaker, especially...

Cars

Tesla’s stock has remained a polarizing topic, especially as the company’s stock price dropped immensely throughout the last year. Bears and bulls are trying...

Cars

Following yesterday’s earnings call, shareholders of Tesla stock are pleased to see a “comeback” after a tough few months. Shares surged over 10% in...

Cars

In this article, I will explain how many households don’t have access to the US EV tax credit and some possible solutions. 81 Million...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.