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Here are the biggest calls on Wall Street on Thursday:
Jefferies raised its price target on Tesla to $1,200 from $650
Jefferies raised its price target on the stock to a Street high and said the company’s momentum is accelerating in the wake of the coronavirus pandemic.
“We see Covid-19 as an accelerator of the transition to EVs and renewables, from consumers and public policy. Tesla remains significantly ahead of peers in product range, capacity and technology. Near term, EV friendly incentives in the EU and lower priced Model 3 support H2 volume, making Tesla more resilient than peers.”
Read more about this call here.
RBC raised its price target on Shopify to $1000 from $825
RBC raised its price target on the ecommerce company that helps businesses online to a Street high and said the stock was “underappreciated.”
“Despite a doubling in its share price YTD, we believe the market still underappreciates three things about SHOP: its total addressable market, its Take Rate Potential, and its Operating Margin potential…and hence its EPS power. Based on updated Comps analysis, strengthened DCF drivers, and a forwarding of our val framework to ’22, we are raising our PT to $1,000.”