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Tesla stock to soar by 28% in 2022, Wedbush says

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Tesla stock to soar by 28% in 2022, Wedbush says

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Analysts agree that Tesla stock will continue to excite investors in 2022. The outlook for the future of the company is more than positive. Even the global chip shortage is unlikely to prevent its shares from making progress, experts are sure.

“The linchpin to the overall bull thesis on Tesla remains China, which we estimate will represent 40% of deliveries for the EV maker in 2022,” Wedbush Securities analyst Daniel Ives said. In addition, new factories in Texas and Berlin will also contribute to steep gains in the value of the company's securities. According to the expert, shares in the electric-vehicle maker could soar by 28% to $1,400 per share by the end of 2022. Accordingly, Tesla's market capitalization could increase by more than a quarter. Ives is not concerned about the lack of chips. He believes that the major challenge for the automaker will be the excess of demand over supply, while the problem with auto components will be solved in one way or another. Notably, last year, Tesla stock advanced by about 50%. As a result, its market value exceeded $1 trillion. This year, Tesla stock is poised for another solid gain.

Tesla CEO Elon Musk's net worth is $280 billion, according to the Bloomberg Billionaires Index. His fortune is almost three times greater than that of Amazon CEO Jeff Bezos who is ranked second on the list. Daniel Ives estimates that in the next 12 months, Tesla will be able to produce about 2 million cars (twice as many as in 2021).

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