Daniel Ives, an analyst from Wedbush, reiterated the Buy rating on Tesla (TSLA – Research Report). The associated price target remains the same with $550.00.
Daniel Ives has given his Buy rating due to a combination of factors that highlight Tesla’s potential for significant growth and innovation. Despite recent challenges and negative sentiment surrounding the company, Ives believes Tesla is on the brink of a major technological and innovation cycle. The introduction of a new, more affordable model is expected to stimulate global demand and boost Tesla’s growth trajectory.
Furthermore, the launch of unsupervised Full Self-Driving (FSD) technology is seen as a transformative development, potentially positioning Tesla as a leader in the autonomous vehicle market. Ives also anticipates that other automakers will adopt Tesla’s FSD technology, contributing to a broader autonomous ecosystem. While concerns about Elon Musk’s distractions persist, Ives is confident that these issues will diminish over time, allowing Tesla to focus on its strategic vision and capitalize on deregulatory trends that may benefit the company.
In another report released yesterday, Robert W. Baird also maintained a Buy rating on the stock with a $370.00 price target.
TSLA’s price has also changed moderately for the past six months – from $210.730 to $263.450, which is a 25.02% increase.
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