Tesla Analyst Coverage Update
Jefferies & Company:
Jefferies & Company(Rank#23) has lowered its target price for the stock from USD 185 to USD 165 as of April 10, 2024. This adjustment in the target price indicates that Jefferies & Company believes the stock’s fair value has decreased. They have also assigned a “Hold” rating for the stock. A “Hold” rating typically suggests that Jefferies & Company believes the stock’s performance will be in line with the market average, and investors may want to maintain their current positions rather than buying or selling.
Piper Jaffray Companies:
Piper Jaffray Companies(Analyst Rank#16) has maintained its “Overweight” rating for the stock, indicating a positive outlook on its performance relative to the market. However, they have adjusted their target price downward from USD 225 to USD 205 as of April 10, 2024. Despite the decrease in the target price, the “Overweight” rating suggests that Piper Jaffray Companies believes the stock has the potential for above-average returns compared to other stocks in the market.
Zacks Investment Research:
Zacks Investment Research(Analyst Rank#140) has maintained its “Strong Sell” rating for the stock as of April 10, 2024. This rating implies a pessimistic outlook on the stock’s performance, with Zacks Investment Research advising investors to consider selling their holdings. Unlike the other firms, Zacks Investment Research does not provide a specific target price. Instead, their rating reflects their assessment of the stock’s fundamental and technical factors, indicating significant downside risk based on their analysis.
Tesla Stock Analysis
Analyst Target Price and Rating: According to the forecast from 29 analysts, the average analyst target price for Tesla Inc over the next 12 months is USD 233.06. This target price represents the consensus among analysts regarding the stock’s future valuation. Additionally, the average analyst rating for Tesla Inc is “Buy,” indicating a positive sentiment among analysts towards the company’s prospects. Analyst ratings are based on various factors, including financial performance, industry trends, and growth potential.
Stock Target Advisor’s Analysis: Stock Target Advisor’s own analysis of Tesla Inc’s stock indicates a “Slightly Bullish” outlook. This assessment is based on 9 positive signals and 6 negative signals identified by their proprietary analysis algorithm. Positive signals may include factors such as strong earnings growth, positive industry trends, or favorable technical indicators, while negative signals could involve concerns such as high valuation, regulatory risks, or market headwinds.
Recent Stock Performance: At the last closing, Tesla Inc’s stock price was USD 176.88. Over the past week, the stock price has increased by +6.15%, indicating recent positive momentum. However, over the past month, the stock price has seen a more modest increase of +0.88%. Looking at the longer-term performance, Tesla Inc’s stock price has decreased by -4.14% over the last year. These fluctuations in stock price reflect the dynamic nature of the market and various factors influencing investor sentiment and trading activity.
In summary, while analysts maintain an average target price of USD 233.06 and a “Buy” rating for Tesla Inc, Stock Target Advisor’s analysis suggests a “Slightly Bullish” outlook based on a combination of positive and negative signals. Investors may consider these forecasts and analyses alongside other factors when making investment decisions regarding Tesla Inc’s stock.
