Tesla price target raised to $225 from $200 at Wedbush

Wedbush analyst Daniel Ives raised the firm’s price target on Tesla to $225 from $200 and keeps an Outperform rating on the shares. Based on the firm’s recent survey work in the field, Wedbush believes the China EV reacceleration story for Tesla is just starting to hit its stride and should be a tailwind in Q1. The price cuts on Model Y/3 have resulted in a clear demand driver for Tesla in this key China region and coupled with the "reopening" post lockdowns are having a meaningful impact for Tesla in the field over the last few weeks, the firm says. China production now is on a run rate north of 1 million units per year with increased scale/scope which is crucial for Musk & Co. as they battle domestic EV competition and a price war begins in China, Wedbush adds.