Tesla (TSLA) could be worth 1$ to $2 trillion in just “1 or 2 years,” according to Wedbush analyst Daniel Ives.
Tesla’s (TSLA) Historic Run
Tesla’s stock has been on a historic run over the last year that has not only pushed the company’s valuation to new highs, but it has redefined how people are looking at the company and other ventures involved in electric vehicles.
The automaker is now worth $800 billion, which is almost equivalent to the entire auto market combined.
Tesla’s stock is currently trading at around $844 per share — up from the equivalent of $100 per share just a year ago:
The historic run has turned Elon Musk into the richest person in the world, many early investors into new millionaires, and it has changed many people’s views on investing in electric vehicles.
Tesla (TSLA) a $2 trillion company?
Now, one top Wall Street analyst, Daniel Ives of Wedbush, says that it could only be the beginning of Tesla’s stock rise.
In a recent interview with TD Americas, Ives said that he sees Tesla rising over $1.5 trillion over the next year or two:
“In a year or two from now, we’re not just looking at one trillion for Tesla, but in a couple of years this could be a company that could start to approach 1.5 trillion – 2 trillion market valuation.”
The analyst is amongst the most optimistic on Wall Street as he sees Tesla delivering 800,000 vehicles in 2021.
Ives is particularly bullish on Tesla’s prospect in China, where he believes Gigafactory Shanghai to be the “key to the company’s success.”
Furthermore, the analyst sees Joe Biden winning the election in the US with his green agenda as a positive for Tesla.
Here’s the new interview:
Ives is one of the top Wall Street analyst according to Tip Ranks, an analyst ranking firm.
The Wedbush analyst ranked #31 out of 7,223 analysts on TipRanks with a 77% success rate and a 35% average return.