Demand from China could help Tesla exceed its 500,000 delivery target, says a Wall Street tech analyst who sees the stock soaring as much as 56%

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That’s according to Dan Ives, a Wedbush Securities senior tech analyst, who said in a note to clients on Sunday that demand from China could help Tesla reach or possibly exceed it’s once implausible goal of 500,000 deliveries by the end of 2020. Ives sees Tesla surging 56% from current levels to $1,000 a share in his bull case scenario.

“We believe the company is tracking to another strong month of December in China which could be the tipping point to get Musk & Co. to hit/exceed its 500k annual delivery target, an achievement not even on the map for the Street going back to the late spring/summer timeframe,” Ives said.

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