Tesla stock could rally 35% as recent price cuts have already been a huge success in China, Wedbush's Dan Ives says
"Tesla's recent price cuts [are a] huge success story so far," Ives said in a note on Thursday."China represents the core of the Tesla global growth story and it appears the price cuts have been very well-received by EV consumers and thus accelerated purchasing decisions."
He reiterated his 12-month price target of $175 for Tesla stock, which implies a rally of 35% from current levels.Tesla's price cuts were a sign the company is getting more aggressive"We believe all together these price cuts could spur demand/deliveries by 12%-15% globally in 2023 and shows Tesla and Musk are going on the 'offensive' to spur demand in a softening backdrop," he wrote.
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