Tesla (TSLA, $800.74) gets price target hike from Wedbush Securities analyst

Tesla  got a healthy price-target hike from Wedbush Securities analyst Dan Ives.

Ives cited  the electric carmaker’s “turning the corner” in demand and production recovery,  following the covid-19 crisis.

Ives boosted his one-year price target on Tesla’s shares to $800, around a third higher than his prior target.

Amidst the challenges posed by the global pandemic, the company took a “major step forward” around addressing demand and production concerns with the Fremont artery now up and running following the resolution of Musk vs. Alameda County stand-off – according to Ives.

The analyst mentioned that while 2Q delivery numbers remain uncertain due to logistical issues in the pandemic, and with lockdown restrictions beginning to ease across the U.S. and Europe, the underlying demand for Model 3 in China seems strong, with a “solid” May and June likely and clear momentum heading into 2H.

TSLA enters an Uptrend as Momentum Indicator exceeded the 0 level on May 26, 2020

This indicator signals that TSLA's price has momentum to move higher, since its current price moved above its price 14 days ago. Traders may consider buying the ticker or exploring call options. In 50 of 69 cases where TSLA's Momentum Indicator exceeded 0, its price rose further within the subsequent month. The odds of a continued Uptrend are 72%.

ScorecardSTRONG BUY

Technical Indicators: 2 bullish, 72%, 3 bearish, 76%

Fundamental Ratings (best 1 - 100 worst): Profit vs. Risk 26

Current price $803.39 is above $781.88 the highest resistance line found by A.I. Throughout the month of 04/23/20 - 05/26/20, the price experienced a +16% Uptrend. During the week of 05/18/20 - 05/26/20, the stock enjoyed a +0.64% Uptrend growth.

Technical Analysis (Indicators)

Bullish Trend Analysis

The Aroon Indicator entered an Uptrend today. In 188 of 260 similar cases where TSLA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 72%.

Bearish Trend Analysis

The RSI Indicator appears to be shifting from an Uptrend to a Downtrend. In 30 of 39 cases where TSLA's RSI indicator exited the overbought zone, the price fell further within the following month. The odds of a continued Downtrend are 77%.

The Stochastic Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.

The Moving Average Convergence Divergence (MACD) crossed below the signal line. In 32 of 44 cases where TSLA's MACD histogram became negative, the price fell further within the following month. The odds of a continued Downtrend are 73%.

Fundamental Analysis (Ratings)

Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 79%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.09.

The Tickeron Profit vs. Risk Rating rating for this company is 26 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 95, placing this stock better than average.

The Tickeron Price Growth Rating for this company is 34 (best 1 - 100 worst), indicating steady price growth. TSLA’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of 91 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: TSLA's P/B Ratio (16.51) is very high in comparison to the industry average of (3.68). P/E Ratio (0.00) is within average values for comparable stocks, (37.87). TSLA's Projected Growth (PEG Ratio) (0.00) is slightly lower than the industry average of (0.86). Dividend Yield (0.00) settles around the average of (2.02) among similar stocks. P/S Ratio (4.01) is also within normal values, averaging (8.07).

The Tickeron Seasonality Score of 95 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron SMR rating for this company is 97 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents