Canaccord increased Tesla PT to $254 reiterated BUY rating
$Tesla(TSLA.US$ $BYD COMPANY(01211.HK$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$ Canaccord Genuity analyst has increased Tesla price target to $254 (from $222) and reiterated his BUY rating. Based on the statement given by the analyst, he believes that Tesla Q2 2024 earnings call will bring positive news - margin results, details on new vehicles, energy storage and FSD take up rate.
“Tesla's upcoming earnings report after the market close on July 23rd will bring lots of new information: margin results, (possible) details on new vehicles, energy storage updates. However, we think one detail stands out heads and shoulders above the rest in terms of importance: FSD take rates... We are autonomy uber-bulls, but believe in its current form Tesla would be best served with another FSD price reduction (see our survey results). But, we'll see. Maybe FSD take rates are through the roof...”
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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EZ_money : is a car maker worth that much? or does that seem a little overvalued
EZ_money : maybe when they start selling the robots
EZ_money : it's no Ferrari
ZnWC OP EZ_money : Someone said Tesla would go bankrupt a year and a half ago. He said the company would fail last year many times. He reiterated his view again that the stock is overvalued sharing many negative biased posts about the company (and EM) for the past 6 months (almost daily). If you think like this someone, I suggest you skip my post.
ZnWC OP EZ_money : In Q1 2024, Ferrari delivered 3,560 vehicles and Tesla delivered 387,000. Ferrari is a great company which uses a different strategy to earn huge revenue. I'm surprised you didn't mention BYD.
ZnWC OP EZ_money : Your comment showed that you are nervous and frustrated with the stock performance.