Analyst Coverage Change
In a research report on January 23rd, Truist Financial maintained the “Buy” rating on Tesla’s stock. The analyst cut the 12 month target forecast to $245 from $299.
Tesla’s Stock Forecast & Analysis
Based on the Tesla Inc stock forecasts from 34 analysts, the average analyst target price for Tesla Inc is USD 254.81 over the next 12 months. This suggests that analysts on average believe that the stock has the potential to gain around 90% in the next year. The average analyst rating for Tesla is Strong Buy, indicating that the majority of analysts covering the stock have a positive outlook and recommend buying the stock.
Stock Target Advisor, has a slightly bullish rating for Tesla Inc. This rating is based on a combination of both positive and negative signals. The positive signals include factors such as the stock’s recent performance and analyst recommendations, while the negative signals may include factors such as company’s financials and technical indicators.
At the last closing, Tesla Inc’s stock price was USD 133.42. Over the past week, the stock price has increased by 9%, over the past month it has increased by 6.44% and over the last year it has decreased by 57.60%. This shows that the stock has been performing well recently, but has had a significant decrease in value over the past year.
Canaccord’s Bull Case
Canaccord Genuity(Rank#20) analyst, George Gianarikas, is advocating that investors should buy shares of Tesla ahead of the company’s very anticipated earnings report on Wednesday, to see whether or not last year’s drop in valuation was warranted. Despite the stock having a bad 2022 Canaccord’s Gianarikas believes that the demand reduction that was impacting Tesla, in China. and America mainly a has already been taken into account as it has already been priced into the valuation of stock price, and now believes the stock is completely undervalued. Tesla recently reported a delivery growth of 39% for last year, which missed estimates, but this is still a massive growth figure!
Canaccord Genuity(Rank#20)‘s analyst, George Gianarikas has a “Buy” rating on the stock with a 12 month target forecast of $275 per share.