(CercleFinance.com) – Mizuho Securities announced on Friday that it had raised its price target on Tesla from $230 to $300, while maintaining its buy recommendation on the stock.
In a note, the analyst mentions the solid price control enjoyed by the electric vehicle manufacturer, but also a stock market valuation lower than that of other ‘disruptors’ of Nvidia’s caliber.
While the chip designer is trading on the basis of a capitalization/turnover ratio around 19x by 2024, Tesla is only trading around 8.6x, the intermediary points out.
Mizuho also mentions a demand which tends to improve in China and which remains solid in the United States in spite of an economic situation which is becoming more delicate.
In this context, the professional says to consider Tesla as the world leader in electrification for the next decade.
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