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published in Blogs
Apr 12, 2021
Tesla (TSLA, $699.48) shares get rating boost from Canaccord analyst, on Apple-like ecosystem

Tesla (TSLA, $699.48) shares get rating boost from Canaccord analyst, on Apple-like ecosystem

Tesla  shares got a rating upgrade from analysts at Canaccord Genuity, on what the latter perceive as the electric vehicle-maker’s  shift to "Apple-esque ecosystem".

Canaccord analyst Jed Dorsheimer boosted his rating on Tesla shares to "buy" from "hold" . Dorsheimer also raised  his price target by 155%, to $1,071.00 per share. The analyst mentioned parallels between Apple's   "Think Differently" campaign and Tesla's power and storage goals.

"Consumers rave about the in-car software of Tesla and the ease of connectivity," Dorsheimer said. "We expect this consumer/product interaction and admiration to intensify as consumers add solar generation and Powerwall storage products, mimicking the all-encompassing Apple product ecosystem."

According to Dorsheimer, as Tesla’s solar and energy storage products supply constraints are removed, “consumers will be able to become more entrenched in its electrification ecosystem."

Related Tickers: TSLA