Tesla (TSLA) stock gets higher price target from Stifel
Tesla (NASDAQ:TSLA) has received a higher price target from American investment bank and financial services company Stifel.
The firm also maintained its “Buy” rating for TSLA shares.
Stifel’s take:
- Following the release of Tesla’s Q4 and FY 2024 delivery results, Stifel analyst Stephen Gengaro reiterated a “Buy” rating and $411 price target for Tesla stock, as noted in a StreetInsider report.
- As noted in a report from Investing.com, Stifel has now raised its price target for Tesla from $411 to $492 per share.
The reasons:
- The Stifel analysts cited a number of factors behind their recent Tesla price target adjustment, such as the potential removal of the $7,500 federal tax credit and the release of more affordable vehicles.
- The analysts also noted that a potential Model 3 and Model Y refresh could help bolster sales of the company’s vehicles.
- The analysts also mentioned the potential of Tesla’s FSD technology, which could be licensed to other automakers in the future.
- FSD is also the backbone of the Cybercab and the Robovan, Tesla’s two vehicles that are specifically designed for autonomous driving.
NEWS: Stifel has raised its $TSLA price target to $492 (from $411).
“We believe Tesla is very well positioned to deliver robust multi-year growth in 2025-27+. In the near term, the revamped Model 3 and upcoming Model Y refresh should bolster sales, followed by the commencement…
— Sawyer Merritt (@SawyerMerritt) January 6, 2025
What Stifel analysts say:
- “We believe Tesla is very well positioned to deliver robust multi-year growth in 2025-27+. In the near term, the revamped Model 3 and upcoming Model Y refresh should bolster sales, followed by the commencement of a lower-priced vehicle (Model 2) production that likely garners very strong demand.
- “We also believe Tesla’s AI-based Full Self-Driving initiative has the potential to generate significant value through both sales of FSD, possible licensing agreements, and as critical part of longer-term Cybercab (Robotaxi) initiatives,” the analysts noted.
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The post Tesla (TSLA) stock gets higher price target from Stifel appeared first on TESLARATI.
Source: https://www.teslarati.com/tesla-tsla-stock-higher-price-target-stifel/
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