8 Tesla Analysts Size Up Next-Gen Vehicles, FSD, AI And More: ‘Potential To Be A Transformational Technology Company, Deliver Outsized Returns’
Electric vehicle leader Tesla Inc (NASDAQ:TSLA) reported first-quarter revenue and earnings per share that missed Street consensus estimates.
Here’s a look at what analysts are saying after the report and for the future of the company.
The Tesla Analysts:
- Truist analyst William Stein has a Hold rating and lowers the price target from $176 to $162.
- Piper Sandler analyst Alexander Potter has an Overweight rating and a price target of $205.
- Bank of America analyst John Murphy upgrades shares from Neutral to Buy and has a price target of $220.
- Needham analyst Chris Pierce has a Hold rating and no price target.
- Mizuho analyst Vijay Rakesh has a Neutral rating and lowers the price target from $195 to $180.
- Goldman Sachs analyst Mark Delaney has a Neutral rating and price target of $175.
- Oppenheimer analyst Colin Rusch has a Perform rating and no price target.
- Roth MKM analyst Craig Irwin has a Neutral rating and price target of $85.
Related Link: Tesla Stock Is Ripping Higher Wednesday: What’s Going On?
Truist on Tesla: New products and artificial intelligence developments could help the company, Stein said in a new investor note.
“Tesla’s Q1 result was modestly below consensus, but messaging around new auto products and improving AI developments were distinctly positive surprises, likely smoothing performance between the prior, growth wave and the next growth wave,” Stein said.
The analyst said Tesla has several risks, which include price cuts and the overhang of CEO Elon Musk‘s compensation package being voted on by shareholders.
“The most important update today is that, instead of waiting for the next-gen platform to drive a wave of growth starting in late 2025, Tesla now plans to release more iterative versions of vehicles before late 2025 using aspects of the next gen platform.”
The analyst said this push could help “smooth the transition” for the company’s waves of growth.
Piper Sandler on Tesla: First quarter results from Tesla were better than expected, Potter said.
The analyst said investors likely expected the worst with recent reports of weak deliveries and mass layoffs.
“Make no mistake: the TSLA thesis hinges …
Full story available on Benzinga.com