Tesla TSLA stocks are going to skyrocket; analysts give buy signals

Analysts are speculating that the stock of Tesla would be increased by many folds in the near future. The market trends are all bullish and positive for this company.

The analyst Alexander Haissl of Berenberg predicted that in the year 2020, the price of Tesla would be five hundred dollars ($500). This indicates a hundred percent (100%) increase in price in the next year.

He elaborated that as all the market trends are bullish; therefore, these predictions are based on practical grounds. However, the crucial point to consider is the demand situation at this point.

Another analyst at New Street Research, Pierre Ferragu, has predicted a higher target of one hundred and ten percent (110%) than the normal prediction of two hundred and thirty-eight dollars ($238). He affirmed that the Q1 weakness would not undermine the bullish market trends.

There are numerous projects that are in the pipeline and have the ability to make the environment more feasible for Tesla for growth.

CEO Elon Musk said that he was hopeful for Model 3 due to stock rise, as this project was facing some issues previously.

The price of Tesla depreciated about forty percent (40%) this year so, there are some bearish signs that still prevail. The Ark investment stated that if the TSLA can launch the project of autonomous taxi network successfully, the stock can be easily increased.

Musk briefed about this project that by 2019, the TSLA will grant complete autonomy, and by the year 2020, even the supervision and check would be eliminated. The predictions of the analysts are largely based on the cost-effective battery pack systems being offered by the company.