Canaccord Genuity Bullish On Tesla In The Long-Term: 'Tesla Is Apple On Steroids...'
Portfolio Pulse from Anan Ashraf
Canaccord Genuity maintains a 'buy' rating on Tesla Inc (NASDAQ:TSLA) with a price target of $267, citing the company's focus on manufacturing and vertical integration. They compare Tesla to 'Apple on steroids' and label it a 'sustainability behemoth'. Despite a strong performance in 2023, Canaccord expresses caution about near-term growth slowdown and awaits Tesla's earnings call on Jan. 24 for further insights. Tesla's annual production and deliveries exceeded its target of 1.8 million units for the year.
January 03, 2024 | 3:14 am
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Canaccord Genuity reaffirms a 'buy' rating on Tesla with a $267 price target, comparing the company to 'Apple on steroids'. They are cautious about near-term growth but recognize Tesla's strong 2023 performance and production/delivery achievements.
The reaffirmation of a 'buy' rating and a significant price target of $267 by Canaccord Genuity is a strong positive signal for investors, indicating confidence in Tesla's long-term prospects. This could lead to increased investor confidence and a potential uplift in the stock price in the short term. However, the caution expressed about near-term growth could temper some of the positive sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100