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.

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.’