Tesla (TSLA) Analysts Provide Stock Price Forecasts for the Upcoming Year
Overview of Tesla's Recent Performance
Despite a strong recovery in the second and third quarters of 2024, Tesla (NASDAQ: TSLA) faces challenges due to a significant decline in demand. Recent earnings and delivery reports were better than expected, but the company confronts the ongoing ‘EV winter’.
Recent Challenges Faced by Tesla
- August recall of 1.6 million vehicles in China due to software issues.
- Broader market slump affecting stock performance.
- TSLA stock price has declined approximately 23.25% from its yearly highs as of August.
Analyst Ratings and Price Targets
As of August 12, the analyst consensus reflects a largely neutral outlook on Tesla stock. Ratings among experts show:
- 22 rated it as neutral.
- 22 rated it as either a buy or strong buy.
- 12 ranked it as either a sell or strong sell.
Price Target Predictions
- Highest price target: $400, indicating a potential 100% increase.
- Lowest price target: $85, highlighting serious concerns.
Conclusion
The mixed reviews emphasize that while there are signs of positive demand for Tesla’s electric vehicles, significant risks remain. Investors will need to weigh potential rewards against hazards before deciding.
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.