"In September, Mizuho raised its price target on Tesla to $450 from $375 while keeping an "Outperform" rating. In July, Goldman Sachs raised its price target on TSLA to $315 from $285 while maintaining a "Neutral" rating. Benchmark raised its price target on TSLA to $475 from $350 while maintaining a "Buy" rating following the successful launch of Tesla's robotaxi business in Austin. UBS raised its price target on TSLA to $215 from $190 but maintained its "Sell" rating."
"And while the stock may not be ready to shift gears from reverse to forward, I do think that a worsening of its latest drawdown could prove a significant buying opportunity, given the chance its drivers could pay off at some point over the medium term. Undoubtedly, the bears may be winning the tug-of-war on the stock now, as Elon Musk's role at DOGE (Department of Government Efficiency) becomes old news as hype surrounding Musk's friendship with Trump begins to fade."
"When the company reported in July, it announced that in Q2, revenues were down 12% year over year (YoY), EPS was down 23% YoY, operating income was down 42% YoY and vehicle deliveries fell to 384,122 - down 14% YoY."
Tesla shares rose recently to produce a 17.16% year-to-date gain but remain 7.20% below the Dec. 17, 2024 all-time high. Q2 results showed a 12% year-over-year revenue decline, EPS down 23%, operating income down 42%, and vehicle deliveries falling 14% to 384,122. The India launch in mid-July yielded roughly 600 orders. Multiple analysts revised price targets over the summer, with Mizuho, Goldman Sachs, Benchmark and UBS altering targets and ratings; Benchmark cited a successful Austin robotaxi launch. Elon Musk's role at DOGE has become less prominent as attention to his friendship with Trump fades. Rising EV competition and a Jeff Bezos-backed startup add pressure, while a deeper drawdown could present a notable buying opportunity.
Read at 24/7 Wall St.
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