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Tesla’s stock (TSLA) is on the rise this week as KGI Securities is initiating coverage of the electric vehicle company and giving it a high price target for its “technological superiority.”

KGI Securities, a Taiwan-based financial company, has been known for its Apple coverage due to their frequent unique insights based on leaks.

Now the company is initiating coverage on Tesla with an “Outperform” rating and a $855 price target, which represents a significant upside over today’s price.

In a note to clients, KGI Securities analyst Jennifer Liang wrote that she believes that the electric automaker currently has “technological superiority” over the competition and several key advantages:

“Tesla will continue to stay ahead of the pack in the midterm; opportunities thrive for those with unique business models and strong competitiveness. We expect Tesla (TSLA US) to maintain its leading position in the global EV space for at least the next 3-5 years. Tesla demonstrates technological superiority and continued dedication to enhancing its EV offerings on all fronts, including software and hardware, namely: (1) advanced Autopilot and full self-driving (FSD) features; (2) the ability for over-the-air (OTA) updates; (3) in-house design of software and electronic architecture, enabling the firm to introduce innovations faster than rivals; (4) a self-developed new 4680 battery cell architecture and unibody castings; and (5) a wide Supercharger network build-up worldwide.”

However, the firm warns that Tesla’s market dominance will dimish over time as more competition enters the space.

Liang wrote:

“Nevertheless, we do not foresee market dominance for Tesla as traditional OEMs, EV start-ups, and global tech giants will seize the massive market potential and increase their competitiveness, brand awareness, software strength, and unique business models. Nio (NIO US, US$44.68, NR), for example, has a strong presence in China and its success is partially built on its battery-as-a-service (BAAS) approach.”

According to TipRank, there are now 23 Wall Street analysts who have updated their 12-month price targets for Tesla in the last three months.

The average price target is $746.91 with a high forecast of $1,200 and a low forecast of $160. Most analysts are rating Tesla’s stock as the equivalent of a “buy.”


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Baby Reindeer: Writer Richard Gadd tells fans to stop speculating about characters

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Baby Reindeer: Writer Richard Gadd tells fans to stop speculating about characters

Richard Gadd has urged fans of his hit show Baby Reindeer to stop speculating about who the characters in his show are based on in real life.

The Netflix series is based on the real-life story of its writer Gadd, who also plays the lead character, and his warped relationship with a female stalker.

Fans have been speculating online about the identity of the stalker played by Jessica Gunning in real life (spoiler warning), as well as who another character, seen sexually assaulting Gadd in the series, is based on.

The character, played by Tom Goodman-Hill, is a TV writer who repeatedly sexually assaults Gadd’s character and supplies him with drugs.

Gadd addressed his fans on his Instagram story on Tuesday, saying: “People I love, have worked with, and admire… are unfairly getting caught up in speculation.

“Please don’t speculate on who any of the real-life people could be. That’s not the point of our show. Lots of love, Richard.”

Read more on Sky News:
Richard Osman reveals Thursday Murder Club cast
Police launch manhunt for Home and Away star

Pic: Netflix
Image:
Pic: Netflix

The show is based on the hit Edinburgh Fringe one-man stage play Gadd performed in 2019.

Gadd, who plays Donny Dunn, a character based on himself, said he didn’t expect the show to “blow up” in the way it has since its release on 11 April.

“I’m super proud of it. I really believed in this show, but the fact it’s gone so stratospheric so quickly, for such a cult, quite niche story… it’s kind of amazing. It’s clearly struck a chord,” he said on This Morning.

The writer, actor and comedian is also an ambassador for We Are Survivors, a charity which supports male survivors of sexual abuse.

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Orpheus Pledger: Australian police launch manhunt for Home and Away star accused of assault

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Orpheus Pledger: Australian police launch manhunt for Home and Away star accused of assault

Police in Australia have launched a manhunt for former soap opera star Orpheus Pledger after he failed to appear in court to face charges of assault.

Pledger, 30, was due to appear at Melbourne Magistrates Court on Tuesday accused of assaulting a woman, Sky News Australia said.

The actor had been granted bail on Tuesday for a court-ordered hospital assessment and had been ordered to return to court the following day, but didn’t show up.

On Wednesday Victoria Police issued a warrant for his arrest and asked the public to help find him.

Pic: Victoria Police
Image:
Pic: Victoria Police

The force said in a statement he was wanted over an “assault-related matter” and hoped “someone may be able to provide information on his current whereabouts”.

Described as “approximately 170cm [5ft, 6in] tall with brown hair and tanned complexion”, police said he was known to frequent the north Melbourne suburb of Northcote and surrounding areas.

Pledger’s manager, Craig McMahon told the Sydney Morning Herald he had not been in contact with his client this week but that he had been shocked by the assault allegations.

Mr McMahon told the paper his client had suffered from mental health issues for a long time.

Read more:
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UK dog’s 17-day Australian adventure

Pledger starred in Neighbours, another Australian soap, in 2011 before joining the cast of Home and Away in 2016 where he played Mason Morgan for three years.

Earlier in his career, he appeared in other TV shows, Silversun and CrashBurn.

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John Lennon’s lost guitar found in loft after 50 years to go up for auction

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John Lennon's lost guitar found in loft after 50 years to go up for auction

A guitar used by John Lennon in the recording of The Beatles album and film Help! is going up for auction after being found in a loft.

Believed to have been lost, the 12-string acoustic guitar had not been seen or played for more than 50 years before it was rediscovered in the home of a British couple.

It is now going up for auction where it is estimated to fetch between £485,000 to £647,000.

Auctioneers believe it could set a “new world record for the highest-selling Beatles guitar”.

The Hootenanny model, made by German firm Framus, was used by the Liverpool band in the 1965 Help! film, specifically in the scene when the group perform You’ve Got To Hide Your Love Away.

It was also used during the recording sessions for It’s Only Love and I’ve Just Seen A Face and Girl along with the rhythm track for Norwegian Wood played by George Harrison.

John Lennon's Lost 1965 'Help!' Guitar Goes On Display At London's Hard Rock Cafe Ahead Of Auction ** STORY AVAILABLE, CONTACT SUPPLIER** Where: London, United Kingdom When: 23 Apr 2024 Credit: Cover Images  (Cover Images via AP Images)
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Lennon’s lost guitar on display in London ahead of the auction. Pic: AP

“Finding this remarkable instrument is like finding a lost Rembrandt or Picasso, and it still looks and plays like a dream after having been preserved in an attic for more than 50 years,” said Darren Julien, co-founder and executive director at auction house Julien’s Auctions.

“To awaken this sleeping beauty is a sacred honour and is a great moment for music, Julien’s, Beatles and auction history.”

It is believed the guitar came to be in the possession of Scottish guitarist Gordon Waller, known for being one half of the pop duo Peter & Gordon, who later gave it to his band’s road managers in the 1970s.

Read more:
Four Beatles films in the works

It is not the first piece of Beatles memorabilia to be rediscovered.

In February, Sir Paul McCartney was reunited with his 1961 Hofner bass guitar, which he used on songs such as Twist And Shout and She Loves You.

Julien’s Auctions has previously sold another Lennon acoustic guitar for $2.4m (£1.93m), Ringo Starr’s Ludwig drum kit was purchased for $2.2m (£1.77m) and a Ludwig drumhead bass used on The Ed Sullivan Show was auctioned at $2.1m (£1.64m).

The Hootenanny guitar will go up for auction along with the guitar’s Maton Australian-made case as part of Julien’s Music Icons two-day auction on 29 and 30 May.

Also being sold at the auction is an Adam Clayton stage-played and owned rose sparkle Fender bass guitar, used at the U2 Las Vegas Sphere shows, which has an estimate of $50,000 to 70,000 (£40,199 to £56,279).

Tina Turner’s Versace dress, worn during her 1996 to 1997 Wildest Dreams Tour, and Amy Winehouse’s Black Fendi gown made for the opening of the clothes shop during Paris Fashion Week, are also up for auction.

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