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The Most Analysts in a Long Time Call Tesla a ‘Buy’

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Feb. 22 2019, Updated 3:20 p.m. ET

Tesla in China

In the previous article, we looked at Tesla’s (TSLA) plans to expand in the Chinese market (XLY) despite its ongoing struggle in the country. Recently, Tesla has decreased the prices of its Model S and X in China to compete with local market players, including NIO (NIO). NIO, popularly known as “the Chinese Tesla,” was listed on the NYSE in September 2018. NIO currently offers two SUV car models: the ES8 and the ES6. Both of NIO’s SUVs are priced much lower than Tesla’s SUV Model X.

Let’s move on by looking at Wall Street analysts’ consensus ratings on Tesla.

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Analysts’ consensus ratings

As of February 19, most analysts covering Tesla stock, or 39% of those surveyed by Thomson Reuters, have given it “buys.” A total of 26% of analysts have given it “holds,” and the remaining 35% have given it “sells.” Analysts’ consensus target price for Tesla is $332.44, reflecting an upside potential of 8.8% from its market price of $305.64.

In the last month, some analysts have turned positive on Tesla. About a month ago, only 32% of the analysts covering the stock had given it “buys,” and it had a much lower consensus target price of $297.04.

Recommendations on peers

As of February 19, 68% of analysts covering General Motors (GM) have given it “buys,” and their consensus target price reflects a potential upside of 19.3%. In contrast, only 23% of analysts covering Ford Motor Company (F) have given it “buys,” and its target price reflects a 5.6% potential upside.

A total of 40% of analysts covering Tesla’s Chinese peer NIO have given it “buy” recommendations. Analysts’ target price indicates a potential upside of ~12.6% from its current market price.

Next, we’ll analyze the future growth prospects of Tesla’s Energy Generation and Storage segment in 2019.

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