Stifel Nicolaus analyst Stephen Gengaro has maintained their bullish stance on TSLA stock, giving a Buy rating on March 28.
Stephen Gengaro has given his Buy rating due to a combination of factors influencing Tesla’s future performance. Despite lowering near-term delivery expectations and adjusting the target price to $455, Gengaro remains optimistic about Tesla’s medium- to long-term prospects. The introduction of the new Model Y and potential backlash against Elon Musk are seen as short-term challenges, but the ramp-up in production is expected to boost sales in the latter half of 2025.
Additionally, the anticipated launch of the Full Self-Driving service in Austin, Texas, and its expansion across the U.S. by the end of 2025 is considered a significant positive catalyst. Furthermore, Tesla’s strong domestic manufacturing presence positions it favorably against competitors who may face increased costs due to new tariffs on imported vehicles. These factors collectively support the Buy rating, highlighting Tesla’s potential for growth despite current headwinds.
According to TipRanks, Gengaro is a 3-star analyst with an average return of 1.0% and a 37.93% success rate. Gengaro covers the Energy sector, focusing on stocks such as Solaris Energy Infrastructure, Baker Hughes Company, and Core Laboratories.
In another report released on March 28, Deutsche Bank also maintained a Buy rating on the stock with a $345.00 price target.