Analyst Coverage Change
On Tuesday January 31st, Berenberg Bank issued lowered the target on Tesla Inc. to $200 from $255, and maintained the “Buy” rating on the stock.
Daiwa Securities Co. raised the 12 month target forecast on the stock to $200 from $130, and maintained the “Buy” rating on the stock.
TSLA Stock Price Forecast & Analysis
Tesla Inc stock forecasts from 41 analysts, sees the average analyst target price for Tesla Inc at $177.14 over the next 12 month period. Tesla’s average consensus analyst rating for the stock is set at a “Buy”. Stock Target Advisor’s own stock analysis of Tesla Inc is Slightly Bullish , which is based on 10 positive signals and 6 negative signals. At the last closing, Tesla Inc’s stock price was USD 166.66. Tesla Inc’s stock price has changed by +15.94% over the past week, +35.30% over the past month and -40.93% over the last year.
Tesla News-Insurance Repairs
Insurance companies are reportedly writing off low-mileage Tesla Model Y electric cars because they’re too expensive to repair. Some 120 Model Y vehicles had less than 10,000 miles on them at recent auctions. Insurance companies don’t want to play the game of figuring out if the car is cheaper to repair or replace. The average cost to insure a Model 3 is almost 30 percent higher than the national average for car insurance according to recent statistics. Tesla started offering its own insurance policies for customers in late 2019 to make it easier to insure their vehicles.
One service center quoted a Model 3 owner $16,000 to fix a battery pack coolant leak. Tesla’s insurance side business is helping lower future repair costs for electric vehicles. CEO Elon Musk stated of the issue “Most accidents are actually small—a broken fender or scratched side of the car”. The company is using its insurance arm to make changes in how it designs its vehicles, in order to make repairs easier and more cost effective.