Tesla Analyst Lists 3 Things That Need To Happen For 'Stock To Really Get Its Legs' Amid 'Pause-Period'
Portfolio Pulse from Anan Ashraf
Canaccord Genuity analyst George Gianarikas views Tesla Inc (TSLA) as a solid buy, setting a price target of over $230. He attributes the current stock slump to poor earnings revisions but is optimistic about Tesla's growth in vehicle prices, next-gen vehicles, FSD adoption, and energy storage. Despite aggressive price cuts to boost sales, Tesla's strategy pressures rivals and maintains competitiveness, especially in the US, Europe, and China.
March 12, 2024 | 10:45 am
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Canaccord Genuity analyst George Gianarikas sets a price target of over $230 for Tesla, citing optimism in vehicle pricing, next-gen vehicles, FSD adoption, and energy storage despite recent price cuts.
The analyst's optimistic view and the set price target of over $230 for Tesla are based on expectations of improved margins and volume, driven by factors like next-gen vehicles, FSD adoption, and energy storage growth. Despite recent price cuts and competitive pressures, the analyst's positive outlook could influence investor sentiment and potentially lead to a short-term increase in Tesla's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100