Most Popular

These content links are provided by Content.ad. Both Content.ad and the web site upon which the links are displayed may receive compensation when readers click on these links. Some of the content you are redirected to may be sponsored content. View our privacy policy here.

To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].

Family-Friendly Content test

Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More


Tesla shares (TSLA) are receiving a nice boost this week after a much better than expected first quarter report, but the major upside to shares will be the Biden administration’s efforts to get people to drive electric cars.

This is according to Wedbush analyst Dan Ives, who upgraded his rating of Tesla this Monday to Outperform with a $1,000 target. Ives’ best case price target is a whopping $1,300, reflecting his enthusiasm over Biden’s EV goals.

“We are hearing from insiders that the $7,500 tax credit could possibly turn into $10,000 and that will be a huge change not only for Tesla, but for the whole EV industry,” Ives said.

Currently, the EV tax credit is $7,500. But it goes away after an automaker sells 200,000 vehicles. Tesla and General Motors have gone past that number.

The Biden team has recently announced plans to spend almost $200 billion over the next eight years to help the booming EV industry. The administration is supposedly looking at an expansion of the tax incentive directly to citizens, which would be a big boost to Tesla’s sales and other EV makers.

The administration is also promising support to create 500,000 charging stations and help battery production suppliers.

Even without the help from Biden, Tesla still has a lot going for it.

Tesla reported last week that their first quarter sales were 184,000. Wall Street estimated that number to be 172,230. And strength was seen in both the Model 3 and Model Y.

Making Tesla’s numbers more impressive is the increasing semiconductor shortage that has triggered General Motors and Ford to cease production of trucks.

Says Ives, “Even though there was a sell-off for Tesla this year, I believe this is only the beginning of a massive rally of up to 40%.”

Author: Steven Sinclaire


Most Popular

These content links are provided by Content.ad. Both Content.ad and the web site upon which the links are displayed may receive compensation when readers click on these links. Some of the content you are redirected to may be sponsored content. View our privacy policy here.

To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].

Family-Friendly Content

Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More



Most Popular
Sponsored Content

These content links are provided by Content.ad. Both Content.ad and the web site upon which the links are displayed may receive compensation when readers click on these links. Some of the content you are redirected to may be sponsored content. View our privacy policy here.

To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].

Family-Friendly Content

Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More

Comments are closed.

Ad Blocker Detected!

Advertisements fund this website. Please disable your adblocking software or whitelist our website.
Thank You!