Tesla, Inc. (NASDAQ:TSLA) shares have been languishing since the company released its third-quarter earnings report in mid-October. The stock did not budge despite the electric vehicle maker reporting above-consensus deliveries report last week. Still, an analyst on Friday doubled down on his bullish stance on the Elon Musk-led company.
Reacceleration In The Cards: Tesla’s sales, margins and earnings per share will likely reaccelerate in 2024, said Argus analyst Bill Selesky. In 2024, the factors that drove demand lower, namely a sluggish EV market, rising interest rates, elevated inflation and supply-chain disruptions, will turn positive, the analyst said.
He expects interest rates to trend lower, inflation to decelerate and supply chains to improve.
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