Analyst Ratings Coverage Change
RBC Capital Markets(Rank#3) has released its updated research report on April 19th, by cutting its target price on Tesla’s stock from USD 223 to USD 217. The bank has maintained its “Outperform” rating on the stock despite the reduction in target price.
Tesla’s stock has been on a rollercoaster ride over the past year, with the company facing challenges on multiple fronts, including supply chain issues, regulatory scrutiny, and competition from established automakers and new entrants. The company has also been affected by the global semiconductor shortage, which has disrupted the production of its vehicles.
RBC’s decision to cut its target price on Tesla’s stock is likely influenced by these factors. However, the bank still believes that the company has strong growth potential, particularly in the electric vehicle market. RBC has noted that Tesla has a strong brand, a loyal customer base, and a growing network of charging stations, which should help it to maintain its competitive edge.
Despite the challenges facing the company, Tesla has continued to make progress in several key areas. The company recently unveiled its new Model Y SUV, which has received positive reviews from industry experts. Tesla has also been expanding its production capacity, with plans to open new factories in the US and Europe.
TSLA Stock Forecast & Analysis
Tesla Inc., the electric vehicle and clean energy company, has been in the spotlight for the past few years due to its innovative products, impressive growth, and volatile stock price. According to the average of 47 analysts, the target price for Tesla’s stock over the next 12 months is USD 215.41, indicating a potential upside of about 17% from the current stock price. The average analyst rating for Tesla’s stock is Buy, suggesting that the majority of analysts are optimistic about the company’s future prospects.
However, the stock has had a rocky ride in recent times, having fallen by almost 45% over the last year. Despite this, Tesla’s stock price has shown some signs of recovery in the short term, having gained 2.32% over the past month. But, in the past week, it has declined by 1.33%, indicating that there is still some uncertainty surrounding the stock.
Stock Target Advisor’s own analysis is Slightly Bullish on Tesla’s stock. This means that the signals they have analyzed are leaning slightly towards a positive outlook for the stock. They have identified 10 positive signals and 5 negative signals that could impact the stock price.