Tesla (TSLA)

Apr 26, 2022Trade Ideas

There’s plenty of doom and gloom out there.

But there’s also plenty of opportunity, with companies splitting shares.

“By itself, a stock split should neither create nor destroy any value,” says Christopher Harvey, Wells Fargo’s head of equity strategy, as quoted by Barron’s. “The stocks that split typically have positive price momentum, generally good things are happening at the company, and fundamentals are improving. That’s what the market is focused on, and a stock split is just something you do when that’s happening.”

Look at Tesla (TSLA) – which looks like an interesting buy on a pullback. While TSLA doesn’t have shareholder approval for a split just yet, more than likely it’ll happen. And, once announced, could send the stock screaming higher again, as we’ve seen before previous TSLA stock splits.

Even better, analysts at Deutsche Bank just raised their TSLA price target to $1,250 from $1,200.

“Deutsche Bank analyst Emmanuel Rosner raised the firm’s price target on Tesla to $1,250 from $1,200 and keeps a Buy rating on the shares. Tesla reported another large beat in Q1, delivering new record industry-leading profitability despite the challenging operating environment, benefiting from strong demand and pricing and an intense focus on cost execution,” as reported by TheFly.com.

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