Elon Musk is known for many things. His recent comments about US politics, with Trump offering him an administrative role, are making him shine brighter than ever. Musk also runs five successful corporations and is often disrupting the US stock market momentum. Among his five different endeavors, Tesla has risen to the top of the radar, inviting huge user influx and funds. Will TSLA be able to breach its high price target of $310 predicted by TipRanks, let’s find out.
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Tesla Stock: New Developments
Tesla is Elon Musk’s multinational automotive and clean energy firm that manufactures, designs and sells battery-run electric vehicles. The domain of Tesla is extensive, with its stock price trading at $257 at press time. Additionally, Tesla is being invited to other countries for expansion, per Indian Union Minister Piyush Goyal’s recent interview. In his latest chat with CNBC, Goyal shared Tesla is welcome to join the electric vehicle section in India and help pioneer the agenda of sustainability and green consumption practices.
“Prime Minister Modi has very rightly articulated sustainability from the lens of the consumer and the consumption practices. So, therefore, electric vehicles come into that category. And we in India are big on electric vehicles… Our Indian companies are doing us proud, Tatas and Mahindras… A number of foreign manufacturers have also started making electric vehicles in India. We invite all of them. Tesla is equally welcome to come and enjoy the huge market opportunity.” Goyal later reiterated
That being said, Tesla is already making waves in the US stock market scenario. TSLA has risen 1% recently, closing at $257. The company will also be making a comeback to the Paris Motor Show in October, which may bolster its visibility and growth on a global basis.
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TSLA: Is Breaching $310 Mark Possible?
According to TipRanks, the stock market is highly unpredictable, and accurate forecasts are always difficult to predict. However, TipRanks has given estimates of when Tesla stock may surge or peak with particular price targets.
Per the analysis platform, Tesla may surge to hit $310 in the next 12 months. The platform also shared how TSLA can hit its highest peak of $310 in the next 12 months or may tank to hit a new low of $24.
“Based on 36 Wall Street analysts offering 12-month price targets for Tesla in the last 3 months. The average price target is $210.56 with a high forecast of $310.00 and a low forecast of $24.86. The average price target represents a -18.08% change from the last price of $257.02.”
Speaking about the analyst sentiment, Wall Street experts have suggested a “hold stock” call for Tesla, urging investors to hold the stock for better market recovery soon.
“Tesla’s analyst rating consensus is a hold. This is based on the ratings of 36 Wall Street analysts.”
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