Global Equities Research Raises Tesla’s Price Target to $400

Global Equities Research has increased their price target on Tesla shares from $340 to $400 due to strong demand for the Model 3 and Model Y. The firm noted an increase in demand after the $7,500 Point of Sales EV Credit, which reduces the vehicle price. Tesla has developed in-house software to simplify the ordering process and reduce vehicle prices along with offering instant credits. The company introduced a new rear-wheel drive variant of the Model 3 long-range, priced lower than the all-wheel drive version. Tesla has also postponed the unveiling of its Robotaxi model from August 8 to October.