The electric vehicle market is populated with players Tesla Inc (NASDAQ:TSLA), Rivian Automotive Inc (NASDAQ:RIVN), VinFast Auto Ltd (NASDAQ:VFS), Lucid Group Inc (NASDAQ:LCID) and Polestar Automotive Holding UK (NASDAQ:PSNY). Although the market has soured on the largest EV companies after sluggish growth, a Cantor Fitzgerald analyst remains optimistic that the EV market can outperform Wall Street estimates.
The EV Analyst: Cantor Fitzgerald analyst Andres Sheppard issued Buy ratings for many major EV companies on Tuesday: Tesla with a $230 price target; Rivian with a $15 price target; VinFast with an $8 price target; and Polestar with a $5 price target. Sheppard also issued a Sell rating for Lucid with a $4 price target.
Tesla Takeaways: Sheppard cited Tesla’s price decrease in vehicles’ autonomous driving technology from $12,000 to $8,000 as a future revenue driver. The analyst also saw Tesla’s deal with Baidu Inc (NASDAQ:BIDU) to allow Tesla to use Baidu maps in ...Full story available on Benzinga.com
Related tickers: AMZN, BIDU, TSLA, LCID, RIVN, PSNY, VFS.
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