On January 10, local time, Goldman Sachs analyst Mark Delaney added Tesla to its list of "preferred stocks" in 2022 and raised its target price from $1125 to $1200. Delaney pointed out that Tesla is in a leading position in the transition from the automotive industry to electrification.
Tesla's fourth quarter 2021 delivery data was strong, with more than 308,000 vehicles delivered in the quarter. Deliveries for the full year 2021 were 936,000 units, up 87% year-on-year. Delaney believes that as demand for electric vehicles increases, Tesla sales will grow further in 2022 and mid-2023.
Delaney also mentioned Tesla's vertical integration in hardware and software, the charging station ecosystem, and growth potential in solar and storage. In addition, the company's profitability will continue to improve as Tesla's two new plants in Berlin and Texas go live and software revenue increases.
As of the close of trading on Jan. 10, Tesla shares were up 3.03 percent to close at $1,058.12.
Goldman Sachs raised tesla price targets to $1200 as the preferred stock for 2022. Click on the video to see for yourself!
![Tesla (TSLA.US) deliveries are strong and send a positive signal, and The Big Mo Goldman Sachs sings a lot[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)