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This Analyst Still Thinks Tesla's Competition Is 'Completely Toast' Following Semi Event

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This Analyst Still Thinks Tesla's Competition Is 'Completely Toast' Following Semi Event

Tesla launched Thursday its highly anticipated semitruck, and one analyst who was in attendance at the event was blown away by what he saw.

The Analyst

Global Equities Research analyst Trip Chowdhry has a $485 price target for Tesla stock.

The Thesis

In an email to clients on Friday, Chowdhry outlined the specs for the new truck and pronounced Tesla’s competition as good as dead.

The Tesla Semi will have four motors, a super aerodynamic design and up to 500 miles of driving range. The truck can get from 0 to 60 mph in five seconds, which Chowdhry noted is faster than some models of Porsche. For truckers out there, Tesla says the truck can make it from 0 to 60 miles per hour with an 80,000lb load in about 20 seconds.

Tesla expects to begin production of the truck in 2019, but it has been dealing with production delays in its Model 3 in 2017.

Chowdhry, a long-time Tesla bull, says the Tesla Semi and the surprise new roadster model unveiled at the event are just the attest examples of a Tesla culture that leaves its competitors in the dust.

“Competition has zero chance against TSLA's exponential thinking and TSLA's strong mental aggression to rewrite every rule of the Industry,” Chowdhry wrote. “Competition is completely toast - they are pretty much done!”

Price Action

The market seems to like what it saw from Tesla on Thursday. Tesla stock is trading higher by more than 2 percent on Friday morning but is still down more than 12 percent in the past three months on concerns about production delays.

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Latest Ratings for TSLA

DateFirmActionFromTo
Dec 2019MaintainsEqual-Weight
Dec 2019MaintainsSell
Dec 2019MaintainsOverweight

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