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How Analysts Rate Tesla Stock after Semi Unveiling

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Nov. 20 2020, Updated 3:39 p.m. ET

Analyst ratings on Tesla stock

According to data compiled by Reuters as of November 21, 2017, about 35% of analysts covering Tesla (TSLA) have given the stock a “buy” recommendation. About 35% have recommended a “hold,” and the remaining 30% have suggested a “sell.” These recommendations were based on the consensus of 23 Wall Street analysts currently covering Tesla stock.

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Upside potential

On November 21, 2017, analysts’ 12-month consensus target price for Tesla stock was $316, which was slightly lower than its market price of $317.81.

In 3Q17, Tesla stock returned -5.7%. It has fallen 6.8% so far in 4Q17 as of November 21, 2017. Despite these losses, the stock is still maintaining a YTD (year-to-date) gain of 48.7% compared to a 16.1% rise in the S&P 500 Index (SPY).

Consensus price target has fallen

There have been no major changes in analysts’ recommendations for Tesla after it unveiled its all-electric semi truck on November 16, 2017. About a month ago, analysts’ consensus price target for the stock was higher at $321.89. TSLA’s disappointing 3Q17 results and Model 3 production woes could be the primary reason analysts have lowered their consensus target price for the stock.

With a consistent strength in 2017, Tesla became the most valuable US auto company (XLY) by market cap (capitalization) in April 2017. However, it lost that position to General Motors (GM) again due to the recent weakness in its stock.

As of November 21, 2017, TSLA had a market cap of $53 billion. That was lower than GM at $63 billion but much higher than Ford (F) at $48 billion and Ferrari (RACE) at $21 billion.

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

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