Analyst Rating Coverage
Citigroup (Rank#13) on June 5th, 2023 issued a research report and has revised its analyst rating on Tesla’s stock, upgrading its 12-month target price from $175 to $215. However, it is worth noting that despite the increase in target price, Citigroup has chosen to maintain its “Neutral” rating on the electric vehicle manufacturer. This move by Citigroup reflects a cautious stance regarding the future performance of Tesla’s stock, despite acknowledging potential growth in the company.
TSLA Stock Price Forecast & Analysis
According to a consensus of 48 analysts, the average target price for Tesla Inc’s stock over the next 12 months is USD 204.85. This implies a potential downside of approximately 4% from the last closing price of USD 213.97. It’s important to note that analyst target prices are estimates and can vary based on individual assessments and market conditions.
The average analyst rating for Tesla Inc is “Buy,” indicating a positive sentiment among the analysts surveyed. This suggests that the majority of analysts believe Tesla’s stock has the potential for growth and recommend investors to consider buying it.
Stock Target Advisor, an independent analysis provider, has assessed Tesla Inc’s stock and classified it as “Slightly Bullish.” This analysis is based on 10 positive signals and 5 negative signals identified by their methodology. The positive signals may include factors such as positive earnings trends, strong market position, technological advancements, or other favorable indicators. Conversely, negative signals could include factors such as high valuation, potential regulatory challenges, or other concerns impacting the company’s performance.
Over the past week, Tesla Inc’s stock price has experienced a significant increase of 10.77%. This short-term positive trend may be attributed to various factors such as market sentiment, news announcements, or investor activity. Over the past month, the stock price has surged by 32.74%, indicating a strong upward momentum during that period. However, it’s worth noting that over the last year, Tesla Inc’s stock price has decreased by 8.76%. This reflects the company’s fluctuating performance over a longer time frame.