Tesla Stock: Analysts Bullish Despite 2024 Delivery Decline

Despite Tesla's vehicle deliveries dropping to 1.79 million units in 2024, marking a historic decline, financial institutions maintain an optimistic outlook for the electric vehicle manufacturer's future. This positive sentiment is reflected in significant upward revisions of price targets, with notable adjustments including new targets of $492 and $490. The market's confidence appears largely driven by Tesla's advancement in autonomous driving technology and its strategic positioning in the emerging self-driving vehicle market, highlighting the company's potential for substantial growth beyond traditional automotive sales.

Autonomous Driving Prospects

The company's planned robotaxi service, scheduled for launch in 2025, represents a particularly promising venture, with analysts estimating its potential global market value to exceed $800 billion. Additionally, the increasing adoption rate of Full Self-Driving (FSD) technology in new vehicles suggests strong market acceptance. Industry projections indicate that by 2030, approximately 23 million vehicles could be equipped with this technology, potentially transforming Tesla's revenue structure and market position.