Tesla's stock experienced a significant upswing, driven by divergent analyst forecasts for third-quarter deliveries and the company's ambitious Full Self-Driving (FSD) technology plans. Barclays' optimistic projection of 470,000 vehicle deliveries surpasses the consensus estimate of 460,000, reflecting the ongoing debate about Tesla's market position. This comes as the electric vehicle giant prepares to introduce its FSD technology in Europe and China by early 2025, potentially reinforcing its leadership in autonomous driving. The company's stock climbed 4.9% on Monday, making it the top performer in the S&P 500, despite facing regulatory hurdles and intensifying competition from Chinese manufacturers.
Analysts Divided on Future Performance
Expert opinions on Tesla's stock remain split, with 12 out of 36 analysts recommending purchase, 16 suggesting holding, and 8 advising to sell. The wide range of price targets underscores market uncertainty. Upcoming Q3 delivery numbers, expected in early October, will be crucial in assessing the automaker's performance and could significantly impact stock prices. Meanwhile, Tesla continues to innovate, with Version 12.5.2 of its FSD software promising enhanced driving safety, and Version 13, anticipated in October 2024, projected to offer a sixfold improvement in autonomous driving capabilities.
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