(CercleFinance.com) – Berenberg initiated coverage of Tesla stock on Tuesday with a ‘hold’ recommendation and a price target of $900, only showing limited upside potential of 4%.
In a research note, the analyst says he expects the California-based group to manage to maintain its lead over the competition, both in terms of gross margin and operating profit, despite the planned launch of new models. .
The intermediary fears, however, that the current confinements affecting China will end up penalizing the operational performance of its Shanghai factory.
Berenberg also believes that investors tend to underestimate the impact of soaring commodity prices on battery prices, an increase that he says Tesla will have a harder time passing on to its customers this time around. due to increased competition.
According to the professional, it is above all the success of the fully autonomous driving computer (FSD) developed by the group which will prove fundamental in order to eventually monetize the artificial intelligence tools developed by the company. , as Elon Musk hopes.
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