It was a record-beating quarter, topping the 180,570 deliveries the company recorded in the fourth quarter of last year. In a note on Sunday, Wedbush analyst Daniel Ives upgraded Tesla shares to outperform and raised its 12-month target price for the company to $1,000 from $950.
A filing in February showed that Tesla’s sales in China more than doubled last year amid the coronavirus pandemic. The electric car maker’s sales in China came in at $6.66 billion — around a fifth of the company’s $31.54 billion revenues. Despite a bumper 2020, it’s been a tough year for Tesla stock, with shares down over 9% in 2021.