Edison Yu, an analyst from Deutsche Bank , maintained the Buy rating on Tesla (TSLA – Research Report). The associated price target remains the same with $295.00.
Edison Yu’s rating is based on a combination of factors that suggest a favorable outlook for Tesla. One significant factor is the substantial increase in Tesla’s market capitalization, which has risen significantly since the recent election, reflecting a positive market sentiment and surpassing the combined market value of major automotive companies like Ford, GM, and Stellantis. The company’s potential in various sectors, such as automotive, robotaxi, and robotics, is seen as promising, even as these opportunities are still unfolding.
Furthermore, the political landscape appears supportive, with a close ally of Elon Musk in the White House, which could benefit Tesla and SpaceX over the long term. The possibility of positive US-China relations is also noteworthy, given Musk’s popularity in China and Tesla’s significant presence in the Chinese EV market. These elements contribute to a bullish perspective on Tesla’s future prospects, leading to the Buy rating.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $400.00 price target.
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Tesla (TSLA) Company Description:
Tesla, Inc. manufactures and sells fully electric vehicles, solar energy generation systems and energy storage products. It also operates a network of vehicle service centers and Supercharger stations. The company operates through two segments: Automotive and Energy Generation & Storage. Founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003, the company is headquartered in Palo Alto, CA.