Tesla stock price target raised by $106 due to growth potential and new products

From Nasdaq: 2025-01-04 10:22:00

In 2024, Tesla (NASDAQ: TSLA) stock surged by over 62% despite disappointing fourth-quarter delivery numbers. Canaccord Genuity analyst George Gianarikas raised his price target on the stock by $106, citing growth potential and new products like Tesla’s full self-driving technology. Investors are eyeing Tesla’s potential robotaxi fleet and AI infrastructure investments.

Tesla’s new products, including fully autonomous cybercabs and humanoid robots, could drive future growth. The completion of Tesla’s Shanghai megafactory in 2024 boosted energy storage deployments, expected to increase further in 2025. Gianarikas values Tesla at 40 times projected 2027 earnings, anticipating faster growth than other tech stocks.

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Howard Smith, who has positions in Tesla, highlights the stock’s performance. The Motley Fool also recommends and holds positions in Tesla. The author’s opinions do not necessarily reflect those of Nasdaq, Inc.



Read more at Nasdaq: 1 Wall Street Analyst Just Raised Tesla Stock’s Price Target by Over $100. Is It a Buy?