Canaccord Sustains Buy Rating on Tesla with $420 Price Target

Deep News08:01

Canaccord Genuity analyst George Gianarikas maintained a "Buy" rating for Tesla in a Monday report, keeping the price target unchanged at $420. This indicates nearly 20% upside potential from the current stock price, reflecting continued optimism about Tesla's performance outlook.

Tesla is a vertically integrated pure electric vehicle manufacturer and artificial intelligence software developer, with products spanning autonomous driving and humanoid robotics. Additionally, Tesla sells stationary energy storage batteries for residential and commercial properties—including utility companies—as well as solar panels and solar roofs for power generation. The company also operates a fast-charging network and an auto insurance business.

Based on one-year price targets from 42 Wall Street analysts, Tesla's current average target price is $400.25, with the highest target at $600.00 and the lowest at $25.28.

The average target of $400.25 implies a 13.44% upside from Tesla's Monday closing price of $352.82.

According to consensus recommendations from 54 brokerage firms, Tesla's average broker rating is currently 2.6, indicating a "Hold" recommendation. Ratings range from 1 to 5, where 1 represents "Strong Buy" and 5 represents "Sell."

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