The post 1-year price targets for Tesla stock appeared on BitcoinEthereumNews.com.

The stock price of electric vehicle manufacturer Tesla (NASDAQ: TSLA) is showing bullish signs in the short term as it seeks to recover from the overall slowdown that impacted the EV sector in 2024. Notably, by the close of the market on May 24, TSLA had gained over 3% within 24 hours, trading at $178.95. Despite these short-term gains, Tesla is down over 27% in 2024, a free fall partly alleviated by the company’s strategies, such as rolling out price cuts. Tesla stock price chart. Source: Finbold Indeed, the positive short-term gains come despite reports that the company trimmed Model Y production at its Shanghai factory by 20%. Overall, attention remains on how TSLA will fare in the coming months as it faces resistance at $200. In this line, Wall Street analysts and OpenAI’s most advanced artificial intelligence (AI) tool, ChatGPT-4o, have offered insights into where the stock might be headed in the next 12 months. Wall Street TSLA price prediction  According to a consensus of 53 Wall Street analysts compiled by TradingView, the outlook for Tesla’s stock varies. Some analysts are bullish, forecasting a high of $310, which would represent a 72% increase from the current price. The consensus average price target is $183, indicating modest growth of about 2%. On the bearish end, the forecast goes as low as $85, implying a potential decline of 57%. Additionally, the analysts’ recommendations are mixed, with 20 advising to hold the stock, while 16 are firmly in the “strong buy” camp. Wall Street 12-month Tesla stock prediction. Source: TradingView Factors affecting Tesla’s stock  On the other hand, ChatGPT-4o also provided an array of projections and underlying fundamentals. The AI tool emphasized the importance of company fundamentals, highlighting that success in scaling production and meeting delivery targets, especially with new models or…

---

Filed under: News - @ May 25, 2024 5:14 pm