Tesla Price Target Revised as Stocks Show Volatility
Tesla Price Target Adjustments Amid Market Turbulence
Electric vehicle pioneer Tesla (NASDAQ: TSLA) faces a turbulent phase. Following a recent Robotaxi event that disappointed investors, TSLA stock price dropped from $238 to $217, marking an 8.8% decline. In the past thirty days, the total price drop is 12.98%, leading to year-to-date losses of 12.43%.
Jefferies Analyst Adjusts Tesla Price Target
On October 21, Jefferies analyst Philippe Houchois adjusted his price target for TSLA from $165 to $195 while maintaining a Hold rating. This update suggests a potential 10.17% downside from the current stock price.
- Operational issues and governance concerns weigh heavily on Jefferies' outlook.
- The reliance on uncertain ZEV credits raises additional funding questions.
Mixed Market Sentiments Surrounding TSLA
Despite some bearish sentiment, there are positive indicators for Tesla. Earlier this month, the company surpassed vehicle delivery estimates, although it didn't significantly impact stock prices. Barclays also maintained a Hold rating with a price target of $220, highlighting the need to reassess fundamentals amidst the shifting landscape.
As Tesla launches more affordable models in early 2025, the company may stabilize its earnings and revenues until fully autonomous vehicle plans materialize. The upcoming Q3 earnings call is poised to play a pivotal role in determining the future of TSLA stocks.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.