This has the Mizuho analyst increasing the firm’s price target from $180 per share to $230 per share. That’s a potential downside of 4.6% compared to its prior closing price. However, it is above the analysts’ consensus price prediction of $198.61 per share.
At the same time as this price increased, the analyst maintained the firm’s “neutral” rating for TSLA stock. That matches the analysts’ consensus rating of hold based on 34 opinions.
What’s Behind the New TSLA Stock Price Target?
Here’s what Rakesh said about Tesla in a note to clients obtained by StreetInsider.
“TSLA reported better JunQ EV deliveries, up 15% q/q, while core EV deliveries continued to slow, down 5% y/y, While 3Q24/SepQ delivery comps are easier y/y, higher Model3 prices in Europe with tariffs, combined with China TSLA EV June deliveries down 20% y/y (vs domestic China EV players BYD/NIO up 98%/35% y/y) and an aging TSLA fleet design are a challenge. We have adjusted our estimates for modestly higher EV deliveries, lower GMs with pricing, and modestly higher OM with headcount cuts.”
TSLA stock is up 4% as of Friday morning with more than 94 million shares traded. The company’s daily average trading volume is about 96 million shares.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.