Well-known Tesla long maintain $1,400 target price

$Tesla(TSLA.US)$ Leading Tesla long, investment bank Wedbush believes that Tesla Inc. is still in a strong position going into 2022.

Reasons cited are Chinese demand that will drive business growth and new factories in the U.S. and Germany that are expected to ease the oversupply situation.

Tesla's stock could rise nearly 30 percent in the next 12 months, analyst Daniel Ives wrote in a note. Ives expects the shortage of auto parts to ease next year, with the company better able to meet growing demand in China, and new factories in Austin, Texas, and Berlin that should ease global production bottlenecks.