Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Daiwa Gets Bullish On Tesla Citing Its Edge Amid Russia-Ukraine Crisis

  • Daiwa analyst Jairam Nathan upgraded Tesla Inc (NASDAQ:TSLAto Outperform from Neutral with a price target of $900, down from $980. It implies an upside of 12.4%.
  • The analyst says renewed supply chain concerns combined with higher oil prices enhance Tesla's competitive advantage over legacy internal combustion engines. 
  • Tesla's ability to export out of "cost-efficient" China and its history of better managing chip shortages in 2021 could strengthen its competitive position under the current Russia/Ukraine situation, Nathan tells investors in a research note. 
  • Further, the analyst adds that higher oil prices and the potential of fuel shortages, especially in Europe, could accelerate the shift to electric vehicles.
  • Price Action: TSLA shares traded higher by 0.28% at $803 in the premarket on the last check Friday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.