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Analysts’ Views on Tesla Stock as the Price Rally Continues

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Jun. 14 2017, Updated 5:35 p.m. ET

Analysts’ recommendations on Tesla stock

According to data compiled by Reuters as of June 13, 2017, about 29.0% of analysts covering Tesla (TSLA) have given the stock a “buy” recommendation. About 43.0% have recommended a “hold,” while 28.0% have suggested a “sell.”

These stock recommendations are based on the consensus of 21 Wall Street analysts currently covering Tesla.

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12-month price target

On June 13, 2017, Tesla’s 12-month consensus target price was $269.56, which is already about 28.0% lower than its market price of $375.95. Notably, Tesla stock has yielded quite impressive returns so far in 2017. On a year-to-date basis, it has risen about 75.9%, while on a quarter-to-date basis, its gains stood at 35.2%.

With these stellar stock gains, Tesla became the most valuable automaker by market cap in the United States. As of June 13, 2017, Tesla had a market cap of $61.8 billion, which was much higher than legacy auto companies (XLY) Ford (F) and General Motors (GM) as well as motorcycle maker Harley-Davidson (HOG).

The 14-day relative strength index technical indicator on the company’s daily stock price chart is 72.9, indicating an overbought condition.

Model 3 initial production to begin in July

In its 1Q17 shareholder letter, Tesla informed investors that the initial production of its Model 3 would start in July 2017. To avoid any delays in its Model 3 production, the company has been in touch with Model 3 parts suppliers to ensure timely deliveries.

In the next part of this series, we’ll see how analysts are rating General Motors stock in June 2017.

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