New Street Research analyst Pierre Ferragu on Wednesday reiterated his commitment to Tesla (TSLA). O) maintained a buy rating of $1580, the highest level on Wall Street. The analyst said the stock was expected to reach its target price level "at least" by the end of the year, up more than 40 percent from its current stock price. Ferragu expects that capacity at Tesla's Shanghai plant will continue to increase, and plants in Berlin and Texas will also be operational, reaching 1.8 million units per year by the end of 2022, unless chip supply constraints worsen, creating significant (but temporary) headwinds. He also expects Tesla Vehicle revenue to exceed $80 billion this year and revises more than 40 percent of expectations for the coming years; he cautiously predicts that sales growth in 2023 and 2024 will reach 34 percent and 29 percent, respectively, well below the company's 50 percent target.
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