"From its year-to-date high on Jan. 15, TSLA is down 17.76%, and since hitting its all-time high on Dec. 17, 2024, the stock has fallen 26.55%. 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."
"In June and July, the EV firm has experienced a series of price target revisions from analysts. 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 its "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."
Tesla shares popped 7.23% over the past five sessions but remain down 7.17% year-to-date and 26.55% from the December 2024 all-time high. Q2 results showed revenues down 12% YoY, EPS down 23% YoY, operating income down 42% YoY, and vehicle deliveries at 384,122, down 14% YoY. Analysts revised price targets variably—Goldman to $315 (Neutral), Benchmark to $475 (Buy) after the Austin robotaxi launch, UBS to $215 (Sell), and Mizuho to $375 (Outperform). A deeper drawdown could present a medium-term buying opportunity amid fading Musk-related hype, mounting EV competition, and a Jeff Bezos-backed entrant.
Read at 24/7 Wall St.
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