Bernstein analyst Toni Sacconaghi maintains $Tesla (TSLA.US)$ with a sell rating, and maintains the target price at $120.
According to TipRanks data, the analyst has a success rate of 56.9% and a total average return of 6.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Tesla (TSLA.US)$'s main analysts recently are as follows:
Tesla's third-quarter non-GAAP EPS of 72c surpassed expectations, which were notably lower, indicating a comprehensive beat mainly propelled by a robust Auto gross profit and an uptick in regulatory credits. Subsequent to the earnings report, projections for EPS have been modestly elevated, reflecting an enhanced gross margin in the third quarter. This improvement is attributed to reduced raw material costs, the progression of the Cybertruck, operational execution and cost reduction efforts, along with an increase in regulatory credits and volume.
The company showcased stronger gross margins in its Q3 report and maintained its forecast for vehicle volume growth in 2024, as well as a 20%-30% increase in deliveries for 2025. The recent earnings report is seen as incrementally positive, particularly due to the stronger-than-anticipated margins. Nevertheless, ongoing discussions are focusing on the company's ability to achieve its full self-driving performance and vehicle delivery growth objectives for 2025, along with the durability of its margins.
Estimates for Tesla have been raised, especially for 2024, to mirror the stronger-than-expected performance in the third quarter and the projection of a solid finish for the year in the automotive and energy storage segments. The impending release of the Cybertruck, developments in China's energy storage market, and advancements in the 4680 battery production are anticipated to enhance the company's profit margins through 2025. Analysts predict that Tesla will transfer the majority of its automotive cost savings to promote growth, with expectations of a heightened valuation for its robotaxi prospects as the company's plans become more concrete.
Note:
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