Can Tesla (TSLA) stock reclaim $400 in 2023?
Electric vehicle manufacturer Tesla lost a significant amount of its share price in 2022 despite delivering a record 1.3 million vehicles. In the eyes of investors, Tesla is not immune to the challenges confronting the automotive sector as a whole.
Recently, the company has been forced to reduce the prices of its flagship Model 3 sedan and Model Y SUV in China and the United States.
A subsequent recession forced the company to slash prices by up to a fifth in order to stimulate demand noting that Tesla’s current valuation is still a little bit overvalued, with “a fair value around $80-$95.”
Coin Price Forecast, which uses data science and machine self-learning technology for stocks, has predicted that the price of Tesla will climb by the end of the year but not to $400.
A subsequent recession forced the company to slash prices by up to a fifth in order to stimulate demand noting that Tesla’s current valuation is still a little bit overvalued, with “a fair value around $80-$95.”
Coin Price Forecast, which uses data science and machine self-learning technology for stocks, has predicted that the price of Tesla will climb by the end of the year but not to $400.
On Wall Street, 45 analysts have given a ‘buy’ consensus rating for the stock. Notably, 24 experts advocate a ‘strong buy,’ and five a ‘buy.’ Elsewhere, 12 recommend ‘hold,’ and 4 collectively have opted between ‘sell’ or a ‘strong sell.’
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TeslaSmurf : Only if they show at 2023 earnings (not the next one which is still Q4 2022) that they can compensate the discounts with higher sales and consequent scale cost reduction. In that case the boost will arrive as soon as the Cybertruck line starts ramping up (it’s a 1,5 year long process) and the over 1 million reservations are confirmed on that truck.
TeslaconomicsOP TeslaSmurf: buy now？