Tesla delivers ‘Master Plan 3’ in highly anticipated investor day, says Wedbush

Wedbush notes that on Wednesday, Tesla held its highly anticipated investor day in Austin, TX with the main event being its "Master Plan 3" to investors and the Tesla community. There were 3 main themes at the investor day in Wedbush’s opinion, namely global scale of Tesla with a new Gigafactory announced in Monterrey, Mexico adding to its massive breadth, reveal of Tesla’s next generation platform which will include 2 new vehicles to be introduced at a later date, and reiterated the long-term goal of 20M vehicles per year. While there were no specific details for the lowered price next generation Tesla in the sub $30k range as the Street had been anticipating which will cause a knee-jerk modest selloff on Thursday, the stage is set for this car to be produced and scaled globally, it says. The firm has an Outperform rating on the shares with a price target of $225.