Tesla Inc.’s impressive third-quarter earnings and revenue beat despite the impact of chip shortage indicates a robust electric vehicle trajectory for the Elon Musk-led company in the current quarter and beyond, according to analysts from Loup Ventures and Wedbush Securities. Tesla Analysts Wedbush analyst Daniel Ives has maintained an Outperform rating and a price target of $1,000 on the Tesla stock. Gene Munster of Loup Ventures believes Tesla’s sales could jump from $70 billion next year to $400 billion in 2027 and the stock could hit $2,500 a share then. Tesla Thesis Ives, who has been a long-time Tesla bull, said the company’s robust earnings beat speaks of a more profitable company going forward and is key to a higher re-rating on the stock. Tesla reported third-quarter earnings per share (EPS) of $1.86, beating the street consensus of $1.57. Ives said the gross margin beat during the quarter shows more …
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