From Nasdaq:

Tesla reported 485,000 deliveries for Q4 2023, marking a 20% increase. Total deliveries for 2023 came in at 1.8 million, up 37.7%. Growth in the EV market cooled off due to high interest rates and weaker consumer sentiment. However, Tesla benefited from selling new vehicle models and commencing deliveries of its Cybertruck pickup.

TSLA stock has seen little change, moving slightly from $235 in early January 2021 to around $250 now. Over this 3-year period, TSLA underperformed the S&P 500. However, the High Quality (HQ) Portfolio outperformed the S&P 500 each year over the same period. Given the current uncertain macroeconomic environment, TSLA could see a strong jump or underperform the S&P.

Trefis currently remains neutral on Tesla stock, with a $237 price estimate. Tesla will remain a beneficiary of the long-term transition to cleaner transportation and energy but presently trades at about 72x 2024 consensus earnings and faces mounting competition. Margins are impacted by price cuts, and earnings for 2023 are projected to decline year-over-year.



Read more: With Delivery Growth Cooling, Is Tesla Stock Still A Buy At $250?