Tesla has received a higher price target from Stifel, reiterating its "Buy" rating for the stock. Following Tesla's fourth quarter and fiscal year 2024 delivery results, Stifel raised its price target from $411 to $492 per share. Analysts cited the potential removal of the $7,500 federal tax credit, affordable new vehicle releases, and anticipated sales boosts from the revamped Model 3 and Model Y refresh. They also highlighted Tesla's AI-driven Full Self-Driving technology, which could be licensed to other automakers and supports initiatives like the Cybercab and Robovan. Stifel expects Tesla to achieve robust growth in 2025 to 2027 and beyond.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla has received a higher price target from Stifle, which also reiterated its buy rating
00:07for the stock.
00:08Following Tesla's fourth quarter and fiscal year 2024 delivery results, Stifle raised
00:12its price target from $411 to $492 per share.
00:18Analysts cited factors including the potential removal of the $7,500 federal tax credit,
00:23affordable new vehicle releases, and anticipated sales boosts from the revamped Model 3 and
00:28Model Y refresh.
00:30They also highlighted Tesla's AI-driven full self-driving technology, which can be licensed
00:34to other automakers, and supports initiatives like the CyberCab and Robovan.
00:39Stifle expects Tesla to achieve robust growth in 2025 to 2027 and beyond.