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

  • Daiwa analyst Jairam Nathan upgraded Tesla Inc TSLA to 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.

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