Tesla's stock hits record high, analysts bullish on future growth potential

From Nasdaq: 2024-12-12 09:31:00

Tesla’s stock rally continues with shares hitting a record high of $424.77, marking a significant milestone since the stock split in 2022. Despite a rocky start to the year, Tesla’s financials are improving, leading to a surge in share price, up over 70% in 2024 post-Trump’s election victory.

Analysts remain bullish on Tesla, with price targets from BofA, Wedbush, Goldman Sachs, and Morgan Stanley soaring above current levels. Tesla’s growth story is far from over, with potential for a Santa Rally pushing the stock past the $500 mark before year-end.

Under Trump’s administration, Tesla is set to shine with Musk’s appointment to co-lead the Department of Government Efficiency. Repealing the EV tax credit aligns with Tesla’s strengths, and tough stances on China could boost Tesla’s market share. Plans for autonomous vehicles could benefit Tesla’s FSD technology rollout.

Key catalysts like Full Self-Driving technology, energy generation expansion, and Cybertruck’s success drive Tesla’s growth in 2025. Strong delivery outlook, a solid balance sheet, and positive growth estimates for sales and EPS further bolster Tesla’s promising outlook for the future.

Zacks Investment Research names Tesla a top pick for 2025, highlighting its transformative force in clean energy and technology sectors. With a strong pipeline of growth catalysts and policy support under the Trump administration, Tesla remains a compelling buy for investors seeking long-term gains. Tesla holds a Zacks Rank #1 (Strong Buy).



Read more at Nasdaq: TSLA Stock Breaks Records: Why It’s a Must-Buy Going Into 2025