#4 - Tesla (NASDAQ:TSLA)
Since closing at over $400 per share in November 2021, Tesla Inc. (NASDAQ: TSLA) has had a rough two-and-a-half years. The company is facing pressure to deliver a lower-priced electric vehicle (EV) model to help blunt rising EV sales in China. It’s also on a mission to make autonomous driving a reality. Both initiatives require capital, and a weaker dollar could help lower the company’s borrowing costs as it funds these initiatives.
And lower interest rates may even be a stimulant for existing EV sales. If that’s the case, Tesla is well-positioned to capture a significant amount of that revenue. That's particularly true in the United States, where the company is far and away the market share leader among EV companies.
With the exception of strong price action around its first quarter earnings report in April, TSLA stock is chopping around near its June 20, 2024 price of approximately $183. The company is a favorite among retail investors, and a rate cut may be just the news event investors need to launch the stock higher.
About Tesla
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.
Read More - Current Price
- $248.98
- Consensus Rating
- Hold
- Ratings Breakdown
- 14 Buy Ratings, 16 Hold Ratings, 8 Sell Ratings.
- Consensus Price Target
- $219.45 (11.9% Downside)
