8 Key Upcoming Catalysts That Could Drive Tesla Shares To $1,000

Tesla, Inc. TSLA shares have been rangebound since breaking below the $794 level in mid-February.

Even as the stock struggles, Gary Black, a Tesla bull and money manager, has reiterated his price target of $1,000.

Black, who has worked at Wall Street firms such as Aegon Asset Management and Goldman Sachs, said in a tweet to his nearly 81,000 followers that Tesla has some key catalysts ahead.

Q2 Earnings: Tesla will likely report second-quarter earnings per share of $1.10, Black said. The Street, on average, estimates EPS of 96 cents.

Tesla announced late Monday it will report its quarterly results after the market close on July 26.

FSD v9: Tesla's full self-driving v9 release and subscription plan due in August will be the next catalyst, the money manager said. The company began releasing over-the-air software updates for its FSD v9 Beta version Saturday.

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Biden Administration's EV Rebate: Tesla will be a beneficiary of the Biden administration's EV tax rebate, which is likely to be announced in August, Black said.

Berlin Giga Opening, Model Y Launch In EU: The opening of the Berlin Giga — which is delayed due to issues with environmental impacts and permitting — and the launch of the Model Y SUV in the European Union, both expected in the fourth quarter, will likely catalyze the stock, he said.

Credit Rating, Truck, Model A: Among the catalysts listed by Black that he expects for 2022 include Tesla securing an investment-grade credit rating, the Cybertruck launch and the rollout of FSD L4/L5, all expected to materialize in the first quarter of 2022.

The analyst also looks ahead to the launch of Model A vehicle in the first half of 2022.

Photo: courtesy of Tesla.