Optimistic outlook: Analysts predominantly continue to bet on Tesla

Tesla was able to reach its delivery target in 2023. In view of this, analysts remain optimistic for the electric car pioneer.

• Tesla has reached its 2023 delivery target
• 2024 brings challenges for the Musk Group
• Majority of analysts believe in Tesla

In the final quarter, Tesla handed over 484,507 cars to end customers and was roughly in line with experts’ expectations. In 2023 as a whole, the Electric car-Manufacturer makes its deliveries as per CEO Elon Musk targeted by 38 percent to almost 1.81 million vehicles.

Deutsche Bank remains confident

After the publication of these sales figures, Deutsche Bank reiterated its price target for Tesla shares at $260.00 and its investment rating of “Buy”, according to the news portal “Investing.com”. The major bank thus retains its trust in tech visionary Musk’s group, even though it sees numerous uncertainties for 2024: a reduced volume forecast compared to market expectations, price pressure, possible effects of Cybertruck margins and a higher tax rate in China pose significant downside risk to profit forecasts, warn Deutsche Bank analysts.

Morgan Stanley remains bullish

According to “Investing.com,” Morgan Stanley continues to rate Tesla shares “Overweight” and sees the 12-month price target at $380.00. Although the US investment bank warned that the core operating margin could temporarily become negative in 2024 as a result of increasing competition, Tesla is not only a car manufacturer but also an AI company. “In our opinion, Tesla is definitely an automotive company. But it is also an AI company. Think ‘and,’ not ‘or,'” Morgan Stanley analyst Adam Jonas wrote in a note published before the latest sales figures were announced became.

Piper Sandler is also optimistic about Tesla

Piper Sandler also expressed confidence in the electric car pioneer. According to “Teslarati”, analyst Alexander Potter gave an “Overweight” rating and sees the price target for Tesla shares at $295. In his note, which was also published before the latest sales figures were announced, Potter was confident that Tesla would be able to deliver 507,000 vehicles in the fourth quarter of 2023, which would have been around 1.83 million vehicles for the full year.

“Given recent quarterly data, we believe our estimate is feasible (although admittedly our forecast may be at the high end of a credible range),” the analyst said at the time. “Even if our estimate turns out to be optimistic, we expect the fourth quarter to be a record quarter,” Potter said.

Bernstein, however, remains cautious

But not everyone shares this enthusiasm for Tesla. As “Investing.com” reports, the US analysis firm Bernstein only rates the electric car group as “underperform” and specifies the price target as just $150. In a note, Bernstein analysts warn of potentially disappointing sales figures in 2024 as well as lower margins due to price cuts and discounts on stock models. Additional challenges would arise for Tesla from older models and the influence of the Cybertruck.

Editorial team finanzen.net

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