October 29, 2020

Tesla Analyst Estimates ‘Staggering’ 650K Cybertruck Preorders

One of the biggest potential catalysts for Tesla Inc (NASDAQ: TSLA) in the next couple of years is the Cybertruck, and one analyst said on Monday he’s cautiously optimistic Tesla’s first truck will be a big hit.

The Tesla Analyst: Wedbush analyst Daniel Ives reiterated his Neutral rating and $1,000 price target for Tesla.

The Tesla Thesis: Ives said the Cybertruck appears to be gaining momentum ahead of a 2021 or 2022 launch.

“We estimate that pre-order levels are staggering coming out of the gates since announced last year and currently stand north of 650k based on our estimate with momentum building for this latest Musk brainchild,” Ives wrote in a note.

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