Tesla: Still Primed to Benefit the Most From an Electric Future

After 2020’s humongous share gains, 2021 is proving a bit of a come down for Tesla (TSLA), with shares sitting 7% into negative territory, a disappointing showing compared to the Read More... The post Tesla: Still Primed to Benefit the Most From an Electric Future appeared first on TipRanks Financial Blog.

Tesla: Still Primed to Benefit the Most From an Electric Future

After 2020’s humongous share gains, 2021 is proving a bit of a come down for Tesla (), with shares sitting 7% into negative territory, a disappointing showing compared to the S&P 500’s 16% uptick.

Wedbush’ Daniel Ives puts the weak performance down to a trifecta of: “1) increasing EV competition, 2) China PR/safety issues negatively impacting demand, and 3) the chip shortage overhang.”

Ives thinks these issues will be the ones Wall Street will mainly focus on when the company reports Q2 earnings next Monday (July 26 AMC).

Nevertheless, despite these issues, Tesla still managed to deliver more than 200,000 units in the June quarter, an “impressive” feat and one which Ives thinks keeps the company on track to “possibly” hit 900,000 for the year with the prospect of a “stronger 2H on the horizon.”

Looking further ahead, Ives thinks that with next year’s addition of the Cybertruck, Tesla can “track towards” 1.3 million deliveries in 2022.

That said, as Ives notes above, part of the downbeat sentiment around Tesla has been due to a constant stream of negative PR/safety headlines from the key Chinese region, while at the same time, competition in the EV segment is only increasing. As for the former, while Ives describes the China issues as “bumpy,” the analyst thinks the way Musk and Co. have navigated them has been “better than expected,” putting the company in a position to “accelerate market share in this key region over the next 6 to 12 months.”

And as for the latter, while competition in this “EV arms race” is intensifying, the march toward an electric future which will change the auto industry forever, is only just beginning. As such, Ives thinks Tesla is still the company to lead the charge.

“We believe the EV market opportunity and green tidal wave will translate into a $5 trillion market over the next decade with Tesla a disproportional beneficiary of this broader consumer adoption towards EVs and autonomous over the coming years,” the analyst confidently wrapped up.

All in all, then, there’s no change to Ives’ rating, which stays an Outperform (i.e., Buy), or price target, which remains at $1,000. Investors are looking at 12-month returns of ~55% from current levels. (To watch Ives’ track record, )

Overall, Tesla has mixed reviews with 10 analysts recommending to Buy, 6 to Hold and 7 suggesting to Sell, culminating in a Hold consensus rating. The $658.27 average price target implies shares will stay rangebound for the foreseeable future. (See TSLA stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

The post Tesla: Still Primed to Benefit the Most From an Electric Future appeared first on TipRanks Financial Blog.

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Flora Growth (FLGC) Receives a Buy from MKM Partners

MKM Partners analyst William Kirk maintained a Buy rating on Flora Growth (FLGC – Research Report) today and set a price target of $6.00. The company's shares closed last Friday at $3.03, close to its 52-week low of $2.85. According to TipRanks.com, Kirk is a 1-star analyst with an average return of -2.5% and a 42.8% success rate. Kirk covers the Consumer Goods sector, focusing on stocks such as Bj's Wholesale Club Holdings, Albertsons Companies, and United Natural Foods. Flora Growth has an analyst consensus of Moderate Buy, with a price target consensus of $6.00. See today’s analyst top recommended stocks >> TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. Flora Growth Corp is a vertically integrated cannabis company. It is focused on becoming the largest producer of low-cost naturally grown medicinal-grade cannabis oils, CBD-infused foods and beverages, and pharmaceutical-grade medical and cosmetic-grade derivatives from the cannabis plant. It prioritizes organic ingredients and value-chain sustainability across its portfolio to create products that help consumers restore and thrive. Read More on FLGC: Wells Fargo Thinks Renaissancere Holdings’ Stock is Going to Recover Nextera Energy Partners (NEP) Receives a Buy from Oppenheimer Twitter (TWTR) Receives a Hold from Wells Fargo Needham Assigns a Buy Rating on Aerie Pharma (AERI) William Blair Remains a Buy on Albireo Pharma (ALBO) The post Flora Growth (FLGC) Receives a Buy from MKM Partners appeared first on TipRanks Financial Blog.

MKM Partners analyst William Kirk maintained a Buy rating on Flora Growth (FLGC – Research Report) today and set a price target of $6.00. The company's shares closed last Friday at $3.03, close to its 52-week low of $2.85.

According to TipRanks.com, Kirk is a 1-star analyst with an average return of -2.5% and a 42.8% success rate. Kirk covers the Consumer Goods sector, focusing on stocks such as Bj's Wholesale Club Holdings, Albertsons Companies, and United Natural Foods.

Flora Growth has an analyst consensus of Moderate Buy, with a price target consensus of $6.00.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Flora Growth Corp is a vertically integrated cannabis company. It is focused on becoming the largest producer of low-cost naturally grown medicinal-grade cannabis oils, CBD-infused foods and beverages, and pharmaceutical-grade medical and cosmetic-grade derivatives from the cannabis plant. It prioritizes organic ingredients and value-chain sustainability across its portfolio to create products that help consumers restore and thrive.

Read More on FLGC:

  • Wells Fargo Thinks Renaissancere Holdings’ Stock is Going to Recover
  • Nextera Energy Partners (NEP) Receives a Buy from Oppenheimer
  • Twitter (TWTR) Receives a Hold from Wells Fargo
  • Needham Assigns a Buy Rating on Aerie Pharma (AERI)
  • William Blair Remains a Buy on Albireo Pharma (ALBO)

The post Flora Growth (FLGC) Receives a Buy from MKM Partners appeared first on TipRanks Financial Blog.

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