On Oct 25, major Wall Street analysts update their ratings for $Tesla (TSLA.US)$, with price targets ranging from $135 to $315.
Morgan Stanley analyst Adam Jonas maintains with a buy rating, and maintains the target price at $310.
J.P. Morgan analyst Ryan Brinkman maintains with a sell rating, and adjusts the target price from $130 to $135.
Deutsche Bank analyst Edison Yu maintains with a buy rating, and maintains the target price at $295.
Guggenheim analyst Ronald Jewsikow maintains with a sell rating, and adjusts the target price from $153 to $156.
Stifel analyst Stephen Gengaro maintains with a buy rating, and adjusts the target price from $265 to $287.
Furthermore, according to the comprehensive report, the opinions of $Tesla (TSLA.US)$'s main analysts recently are as follows:
Tesla's Q3 non-GAAP EPS of 72c surpassed expectations, with a notable performance that exceeded both a major financial institution's forecast of 59c and the consensus of 60c. This success was largely attributed to a robust Auto gross profit and an increase in regulatory credits. In light of this outcome, there has been a modest upward revision in EPS projections, influenced by an improved gross margin in Q3, which reflects reduced raw material costs, progress with the Cybertruck, effective execution and cost reduction strategies, as well as higher production volume.
The company has reported better gross margins in the third quarter and has reaffirmed expectations for vehicle volume growth in 2024, along with a 20%-30% increase in deliveries projected for 2025. Analysts perceive the earnings report to be a slight positive, with margins surpassing expectations. Nevertheless, ongoing discussions center on whether the company will achieve its full self-driving performance and vehicle delivery growth objectives for 2025, in addition to the durability of its profit margins.
Tesla has showcased a substantial Auto gross margin-ex credit in the third quarter, even amidst significant price reductions. Analysts are now turning their attention to more high-value aspects such as regulatory credits, energy storage, and, most notably, autonomous capabilities. Tesla has acknowledged that the third quarter gains were bolstered by the Full Self-Driving feature launch, along with improved freight and logistics conditions. This period underscores the underlying robustness of the company's core automobile business.
Tesla's reported Q3 margins were notably better than the consensus expectations. The company also provided guidance suggesting Q4 volumes could reach approximately 515,000, surpassing the previous estimates of around 495,000, and projected sales volume growth of 20%-30% by 2025. Despite the challenge in substantiating the sales volume growth due to a lack of detailed information on new models and the increasing difficulty to project Cybertruck growth, it is recognized that the guidance may lead to elevated Street estimates.
Tesla's performance post-quarterly results saw an upturn due to impressive auto gross margins excluding EV credits and the projection of 20%-30% delivery growth by 2025. Additionally, the contribution of approximately 150 basis points to the margin from the Full Self-Driving (FSD) release was noted. It was also observed that there was a roughly 3.4% decline in pricing quarter-over-quarter when excluding FSD factors.
Here are the latest investment ratings and price targets for $Tesla (TSLA.US)$ from 8 analysts:
Note:
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