Alexander Potter, an analyst at Piper Jaffray, expects Tesla to deliver 200,000 Cybertruck electric pickups a year starting in 2023. To that end, he raised Tesla’s target price. For the past two years, Porter has given Tesla shares a “buy” rating. He has now raised his target price for Tesla shares to $423 a share from $372.
Mr Porter said he raised the target price for Tesla’s stock because he now considered the delivery of the electric pickup.
He believes Tesla could deliver 200,000 Cybertruck electric pickups a year starting in 2023. Earlier, Tesla announced at Cybertruck’s launch that the first deliveries would take place by the end of 2021.
Tesla unveiled its first electric pickup, Cybertruck, last month, with six seats and a maximum range of 500 miles (805 kilometers) starting at $399,000($280,000).
Thanks to its price and usability, plus its very low maintenance and charging costs, Tesla’s Cybertruck electric pickup has attracted more and more customers.
This week, a mexican mayor decided to order 15 Cybertruck electric pickups from Tesla and convert them into police cars. Late last month, Dubai police announced the inclusion of Tesla Cybertruck in the existing police force. However, it is unclear how many Cybertruck struck selling will be purchased by Dubai police, and Tesla has not given details of the deal. In addition, Tesla’s first electric pickup was ordered by Norway’s justice minister.