Tesla Stock Analysis: Insights from Wall Street
Tesla Stock's Remarkable Recovery
Although it spent most of the year in the red, Tesla (NASDAQ: TSLA) has managed to mount an impressive recovery in 2024. Whereas the first three quarters of 2024 were dominated by supply chain issues, generally disappointing results, and an underwhelming ‘Robotaxi Day’, the company’s Q3 2024 earnings call on October 23 was a standout success.
Since then, the price of Tesla stock has increased by 96.71%, from around $213 to $419 at press time. Year-to-date returns for TSLA stock stand at 68.73% — and there are several crucial tailwinds at play that seem to suggest that the carmaker is poised for even more impressive growth in 2025.
Wall Street Analysts Divide on TSLA Stock Ratings
Perhaps a bit surprisingly, recent positive developments have done little to sway the opinions of equity researchers. There are 34 analysts who track Tesla stock and issue ratings for it — and only 13 consider the stock a ‘Buy’, while 12 rate it a ‘Hold’ and 9 have ‘Sell’ ratings in place per TipRanks.
To put it bluntly, there’s simply no consensus regarding Tesla. Price targets vary wildly, as well — from a low of just $24.86 to a high of $515. However, the average 12-month price target for TSLA stock is $293.76 — a figure that equates to a 29.8% downside compared to current prices.
Still, it’s important to remember that the lowest price target — $24.86, probably skews the average somewhat — but even accounting for that, it’s obvious that Wall Street has turned quite bearish when it comes to Tesla stock.
This could be shifting, however — on December 15 and 16, Truist Securities’ William Stein and Dan Ives of Wedbush raised their price targets — potentially signaling that major equity firms could slowly be changing their minds.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.