Credits for taxes, increased capacity, and greater output. These days, there are a lot of positive developments surrounding Tesla (TSLA stock). Despite this, Wall Street is becoming increasingly concerned about the short-term picture, which is causing price forecasts for Tesla stock to decrease somewhat.
TSLA Stock Target Price
The price objective that Mizuho analyst Vijay Rakesh has set for Tesla ( NASDAQ:TSLA ) has been reduced from $391.67 to $370 per share. He did not change his rating for the stock, which was Buy.
Rakesh said in his assessment that “Supply and logistics continue to be an issue,” which is what prompted him to reduce his expectations for sales during the third quarter and profits per share from $23.2 billion and $1.02 to $21.9 billion and 95 cents, respectively. This is lower than what the majority of analysts on Wall Street are expecting for the company’s third quarter, which is projected to have sales of $22.4 billion and earnings of $1.04 per share.
Not just at Tesla (TSLA stock) but also at the Chinese electric vehicle manufacturer NIO (NIO stock), Rakesh predicted that September deliveries would be slow. Because of this, he is feeling a bit uneasy. Nevertheless, in spite of the rough period, he still recommends buying shares in NIO, Tesla, and Rivian Automotive (RIVN). “Despite some near-term concerns, we continue to see vertically-integrated electric vehicle (EV) firms that are well-positioned with secular growth drivers” (The abbreviation ICE stands for “internal combustion engine.”)
Rakesh is of the opinion that pure-play electric vehicle manufacturers would have an easier time gaining market share from ICE companies. In his analysis, he mentioned as well that future ...
Click here to read the full article on PressReach.com .Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Subscribe to us on Youtube
PressReach Disclaimer .