After the recently published disappointing sales figures, Tesla shares came under pressure. But despite the declining deliveries, a stock analyst continues to believe in the tech giant’s success. That’s what lies behind it.
• Tesla disappoints with sales figures for 2024
• Tesla shares react with losses
• Stifel remains confident and raises price target
Recently, the sales figures of the electric car pioneer Tesla for 2024 caused long faces among investors. The car manufacturer revealed the first decline in its deliveries in more than ten years. A total of 1.79 million electric vehicles were delivered to customers in 2024. In 2023, however, there were 19,355 more vehicles. Tesla boss Elon Musk However, it had previously forecast a slight increase in sales figures.
Only 495,570 electric vehicles were delivered in the fourth quarter of 2024 – a record result after all. However, in order to beat the previous year’s sales figures, there would have to have been 515,000 electric cars. In addition, deliveries last year also fell short of analysts’ preliminary estimates.
Tesla shares react with losses
Tesla shareholders reacted accordingly with a huff: they ultimately caused Tesla shares to fall by 6.08 percent to $379.28 on the reporting day. Nevertheless, Tesla’s performance in the last few months has been more than impressive. In the last three months alone, it has increased by more than 61 percent.
The share certificate benefited in particular from the election victory of US President-elect Donald Trump, whom CEO Musk strongly supported during the election campaign and who will also take a place in the Republican’s future administration. Investors are hoping that Tesla will be able to benefit in particular from faster approval for more extensive autonomous driving.
Stifel analyst remains confident
For Stifel analyst Stephen Gengaro, the disappointing sales figures are no reason to turn your back on Tesla shares. In an analysis to which Sawyer Merrit refers at X, he listed several reasons for this. The expert sees future potential in particular in the various Tesla models. Gengaro believes that a relaunched Model 3 and Model Y could lead to a boost in sales, as could a new even cheaper model, unofficially called Model 2, which is expected to have a big impact Meet demand and bring Tesla closer to an even broader customer base.
NEWS: Stifel has raised its $TSLA price target to $492 (from $411).
“We believe Tesla is very well positioned to deliver robust multi-year growth in 2025-27+. In the near term, the revamped Model 3 and upcoming Model Y refresh should bolster sales, followed by the commencement…
– Sawyer Merritt (@SawyerMerritt) January 6, 2025
Strong positioning of Tesla
The analyst firm sees Tesla in a strong position to record robust growth in the period from 2024 to 2027 and beyond, writes Investing.com. In addition, the analysts also attach great importance to the electric car manufacturer’s progress in the area of artificial intelligence, especially with Tesla’s driving assistance system called “Autopilot”, which is intended to make manual driving of the electric vehicle unnecessary in the long term and autonomous driving possible. CEO Musk has presented his vision several times in the past that Tesla electric vehicles could be used as a robotaxi fleet in the not too distant future. According to Stifel, this in turn creates licensing opportunities for other vehicle providers, which should also have a positive impact on Tesla’s story.
Tesla price target raised
Stifel also highlighted the electric car maker’s strategic positioning and innovation, which led the analyst firm to give a positive outlook on the company’s financial performance and market influence. In view of this, analysts expect Tesla shares to develop positively. In their opinion, the company’s product offering is likely to expand and its technological capabilities will continue to expand. Overall, the experts took the latest sales figures as an opportunity to reiterate their buy recommendation for Tesla shares and significantly increased their price target from 411 to 492 US dollars.
Editorial team finanzen.net
This text is for informational purposes only and does not constitute an investment recommendation. finanzen.net GmbH excludes any claims for recourse.
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