Tesla's stock is garnering significant attention as analysts present divergent forecasts for the electric automaker's upcoming delivery numbers. While Barclays experts project an optimistic 470,000 vehicle deliveries in the third quarter, other analysts maintain a more cautious stance. This disparity is reflected in the wide range of price targets, spanning from a potential upside to a possible downturn. The stock's recent performance, however, tells a different story, with a notable 3.82% increase on Monday, closing at $247.42.
Expansion Plans and Market Challenges
Looking ahead, Tesla aims to introduce its Full Self-Driving (FSD) technology in Europe and China by early 2025, potentially solidifying its position as a leader in autonomous driving. However, the company faces growing competition, particularly from Chinese manufacturers like BYD, which has set an ambitious sales target of 4 million vehicles for 2024. Despite these challenges, Tesla remains confident in its innovative capabilities and continues to focus on advancing its autonomous driving technology to maintain its market edge.
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