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Stifel Reiterates Buy Rating on Tesla (TSLA)

January 2, 2025 12:02 PM EST
Get Alerts TSLA Hot Sheet
Price: $355.84 -0.03%

Rating Summary:
    29 Buy, 22 Hold, 16 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 17 | New: 8
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Stifel analyst Stephen Gengaro reiterated a Buy rating and $411.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "We believe TSLA's 4Q24 production and delivery numbers are a modest negative for the shares. 4Q24 total deliveries of 495,570 trailed our 516,961 estimate, and total implied 2024 deliveries were about 1.1% south of 2023. Deliveries of Model 3/Y of 471,930 modestly trailed our forecast, and other models (S/X/Cybertruck) also missed. On the Energy Storage front, 11.0 GWh of deployments are an all-time quarterly high and align with our robust expectations for that business. Overall, we believe the delivery miss will weigh on the shares. We await details in the January 29 earnings release on Auto margins (specifically Automotive Sales gross profit per delivery not subject to leasing), which will shed some light on pricing/discounts. 4Q24 production of 459,445 missed our estimate by 12.1% and declined 2.2% sequentially. Overall, we reiterate our belief that traction on FSD and Cybercab will be critical drivers to TSLA shares in 2025."

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $403.84 yesterday.



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