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

A Model Y vehicle displayed at a Tesla flagship store on Jan. 4, 2021 in Shanghai, China.
Gao Yuwen | Visual China Group | Getty Images

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 Tuesday.

The automaker said earlier this month that it delivered 184,800 vehicles in the first quarter, topping industry estimates and setting a 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.

More In Street Calls

CNBC ProHere are Thursday's biggest analyst calls of the day: Apple, FedEx, Boeing, Microsoft, Bumble & more
CNBC ProElon Musk's bitcoin backtrack could make Tesla shares even more volatile, Wedbush says
CNBC ProJPMorgan upgrades BJ's Wholesale Club, says membership program is undervalued