Despite recent market unrest, Wall Street analysts see upside opportunities in Tesla (TSLA) and Uber (UBER). Tesla has been the front and center stock in the EV industry and holds the utmost importance in the overall automobile industry. But the market of electric vehicles is still a tiny portion of the large automobile sector, which will change in coming years for sure.
Elon musk’s Tesla hits the high record of production this year which can be seen as the right opportunity for global investors. And the U.S-based EV giant Tesla has the capacity for more production and upscale the automobile industry at a whole new level. The Los Angeles based top private investment firm Wedbush spokesperson assigned a price target of $1,000 per share for Tesla (TSLA).
A big concern of shipping Tesla vehicles from China to Europe would be resolved once the Berlin inventory starts operating. And the company is expected to meet the demand once another manufacturing plant in Austin, Texas, starts working.
The global semiconductor chip shortage has been the biggest issue for the whole automobile industry. But analysts still considering Tesla in a dominant position as compared to other EV manufacturers.
Uber (UBER), another stock on which analysts have their strong eye. Uber has been dramatically successful in managing its ridesharing drivers on food delivery vehicles after mobility got severely hit due to Covid -19 pandemic. Top Wall Street analyst from JP Morgan assigned the price target of $72 to Uber.
The analyst said the current problems uber is facing are high potential opportunities to produce a profit. Currently, Uber is facing a low supply of drivers and regulatory obstacles. Apart from that, Uber Eats, its food delivering platform, has the vast potential to regain high levels of user retention.
With Tesla and Uber, analysts indicate other large-cap companies like Netflix, Adobe and Autozone also have a good buying potential.