The US stock market has struggled, facing increased volatility and concern throughout the year so far. There is no shortage of companies that have seen their share price fall, with talk of a trade war abounding. However, Tesla (TSLA) has been projected to increase, according to TD Cowen, who has said the stock can surge 45% despite its slow start to the year.
The EV manufacturer has been one of the hardest hit stocks of the year, with its price on a major downfall. Although there remains a lot of potential in the robotics and autonomous driving sectors, that has yet to pay off in the near term. However, that could change soon.
Also Read: Tesla (TSLA) Drops 27% in February: Analysts Answer What’s Next
Tesla Could Have 45% Jump in Store, TD Cowen Says
In 2024, Elon Musk had publicly aligned himself with the Trump administration, campaigning to return to the White House. The SpaceX CEO played a critical role in making that happen and was rewarded with a position in Donald Trump’s developing DOGE Commission.
Many thought that was going to be monumental for his company’s value. After all, it never hurts to have allies on Capitol Hill, let alone the White House. However, two months into the year, that has proven to be anything but the case. Yet, there is still immense potential. Tesla (TSLA) is projected by TD Cowen to surge 45% despite its 2025 slide so far.
Also Read: Tesla (TSLA) Stock Gets $430 Target Label From Morgan Stanley
The firm upgraded its price target for Tesla to $388, implying a 47% upside, according to a CNBC report. Although there is growing concern, analyst Itay Micchale shared his optimism with the stock.
“While we are valuation-/sentiment-minded when recommending stocks, we agree with the underlying notion that Tesla cannot be compared to other automaker stocks, not because it isn’t an ‘auto company’ but because its arguably best positioned to capture sizable opportunities that exist across auto-mobility and adjacent markets,” he said.
There is no shortage of analysts who echo that sentiment. Despite falling 27% in the last month, it has a $393 median target. That would represent a 50% increase. However, of the 57 analysts surveyed by CNN, 23% have a sell rating on the stock. Compariatlly, just 47% have issued a buy rating.
