Tesla Analyst Lifts Price Target Ahead Of Q2 But Warns Factors That Dragged Stock By 65% Have Not Gone Away
Portfolio Pulse from Shanthi Rexaline
Jefferies analyst Philippe Houchois has raised the price target for Tesla, Inc. (NASDAQ:TSLA) from $185 to $265, suggesting a 3.44% downside from current levels. The analyst expects Q2 revenue to be $24.7 billion, up 6% sequentially and 46% higher than a year ago. However, he warned that the factors that led to a 65% drop in Tesla's stock in the second half of 2022 have not disappeared.
July 10, 2023 | 11:43 am
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Tesla's price target has been raised by Jefferies analyst Philippe Houchois, but he warns that the issues that caused a 65% drop in the stock price in H2 2022 have not been resolved.
The analyst's price target increase suggests a positive outlook for Tesla's Q2 earnings. However, the warning about unresolved issues that previously led to a significant stock price drop could create uncertainty among investors, potentially limiting any positive impact on the stock price in the short term.
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