Wedbush analyst Daniel Ives raised his price target for Tesla to $710 from $550 saying the company last night delivered a potentially “game changing” Q4. The stock in premarket trading is up 11%, or $63.01, to $644.00. Strong profitability and healthy cash flow signals what could be a new era for CEO Elon Musk and Fremont going forward, Ives tells investors in post-earnings research note. Looking out into 2020, Tesla provided “robust” guidance calling for total unit deliveries to “comfortably exceed 500K units” on the back of Model 3 in China and Model Y in Fremont, adds the analyst. He believes the stock’s “bull party will continue” as the aggressive trajectory of Giga 3 production and demand out of Shanghai “look very strong out of the gates.” The new long-term bull case scenario on the stock is $1,000 with Tesla’s ability to ramp production and demand in the key China region during the course of 2020/2021 a major swing factor on the stock and $20 of earnings power by 2024, contend Ives.