Price Target of $530

New Street Research analyst Pierre Ferragu disagrees with nearly every analyst on Wall Street covering Tesla. His price target of $530 for shares of Tesla — 68% above Wall Street’s $314 consensus makes him the most bullish analyst on Wall Street.

 Ferragu told Business Insider in an interview. “The company is today on a very, very thin line in terms of financing. The balance sheet doesn’t look good and the cash burn of the last four quarters has been enormous —  but they are at a turning point. There does no seem to be an emerging need for cash and I belive they are going to stop burning cash toward the end of this year, which means that they don’t need to raise on that kind of time horizon.”