This article first appeared on GuruFocus.
Sep 4 – Tesla (NASDAQ:TSLA) stock gained ground on Wednesday and early Thursday trading after the company posted strong sales momentum in key international markets. Shares climbed as much as 1.5% on Wednesday and about 1.3% on early Thursday.
In China, Tesla delivered 83,192 vehicles in August, a 22.5% jump from July and its best wholesale month of the year. The automaker also reported a surge in Turkey, where it sold 8,730 Model Y units, an 86% increase from the previous month, making Tesla the country’s second-best-selling auto brand. These bright spots appeared to outweigh softer results in India and ongoing declines across several European markets.
Adding to the upbeat sentiment, Salesforce (NYSE:CRM) CEO Marc Benioff praised Tesla’s robotics progress after visiting its factory, highlighting the company’s Optimus bot project in a post on X.
Nevertheless, the Tesla stock is fluctuating. The stock has dropped 11.4% since then and now trades nearly 30% below the December 2024 peak of $479.86. Although investors celebrated the recent sales figures, more general issues related to inflation, interest rates, and slow demand in Europe still inform the attitude towards the electric vehicle maker.
Based on the one year price targets offered by 45 analysts, the average target price for Tesla Inc is $299.35 with a high estimate of $500.00 and a low estimate of $19.05. The average target implies a downside of -10.40% from the current price of $334.09.
Based on GuruFocus estimates, the estimated GF Value for Tesla Inc in one year is $265.23, suggesting a downside of -20.61% from the current price of $334.09.