Though analysts, in general, remain skeptic about the health of Tesla Motors (TSLA), the recent operational improvements in production and the stock rally have given at least some of them a reason to reconsider their hypothesis.
The stock has gained 26% since reporting strong third-quarter results on October 24, compared to just 10% by rival Ford (F) and 17% by General Motors (GM). The S&P 500 index has increased just 1.5% during this period.
The stock currently has a 12-month average price target of $331.70. This price target is at an 8% discount from Thursday’s close of $363.06, suggesting a majority of the analysts expect to see a dip in stock price. The stock currently has an average consensus rating of HOLD.
Alexander Haissl of Berenberg Bank holds the highest price target of $500 on the stock. Reiterating a BUY rating on the stock, Haissl said he sees no real competition to Tesla. He feels it is up to all three major US automakers to prove their mettle in the electric vehicle industry, though Tesla holds an edge.
Notably, Haissl recommends SELL rating on both GM and Ford.
David Tamberrino of Goldman Sachs is the biggest Tesla bear at the moment. He has a SELL rating on the stock with a price target of $200.
Meanwhile, on Friday, Philippe Houchois of Jefferies upgraded the stock from HOLD to BUY and increased price target from $360 to $450, citing Tesla’s improving balance sheet and industry outperformance.
He stated in a note, “In short, in the year ahead we think only Tesla will avoid a volume zero-sum-game or negative margin trade-off in EVs.”
On the other hand, UBS Group last week reiterated SELL rating on the stock with a price target of $230.
Clearly, the market is divided at the moment on the expectations for Tesla’s future.
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