Mizuho hikes Tesla price target to $820, sees better-than-expected deliveries this year

Tesla’s strong first quarter delivery numbers could portend a strong year for the company and push its stock nearly 15% higher, Mizuho Securities said in a note to clients on Tuesday.

The automaker said earlier this month that it delivered 184,800 vehicles in the first quarter, topping industry estimates and setting a new record for the company. Mizuho, which has a buy rating on Tesla, said in a note that more better-than-expected delivery numbers could follow this year.