Tesla stock price is difficult to predict, target stock price may be lower than current price

News on July 4, Tesla’s latest market data for the second quarter of 2023 shows that nearly 480,000 electric vehicles were produced globally and more than 466,000 were successfully delivered. This result has improved compared to the first quarter. Still, analysts have warned about Tesla's business value, noting that there may be some risky data lurking behind it.

According to the editor’s understanding, Tony Sacconaghi, an analyst at investment research institution Bernstein, said that although Tesla has created huge demand without launching a new model, this may have a negative impact on the market. adversely affect its commercial value.

Sacconaghi said in an interview with the media that Tesla stock is difficult to predict in the short term, and future data is not optimistic. Tesla's stock price has maintained an upward trend since May and is currently stable at around US$280 per share (as of July 3, 2023), with a total market value of US$880 billion. Bernstein predicts Tesla's stock price will fall to $150, which is lower than the current share price.

Sacconaghi said Tesla’s goal is to achieve rapid growth of more than 30% this year and next year. But without new product launches, how to create incremental demand will be the challenge Tesla faces in the next four to six quarters. ”

In order to attract consumers and enhance the competitiveness of existing products, Tesla has no choice but to keep lowering prices. Although Tesla’s production in the second quarter reached 479,700 vehicles, an increase of 86% from the same period last year , and hit a new quarterly high, but Sacconaghi believes this was mainly achieved through price cuts. If Tesla faces weak demand in the next four to six quarters, the company may continue to cut prices to maintain growth momentum. Tesla is likely to come under greater profit pressure as it struggles to maintain sales."

Analysts draw attention to Tesla's challenges in business value, despite its gains in the second quarter It will definitely grow. In the future, whether Tesla can respond to market demand through innovation and launch of new products, and how to balance the relationship between sales and profits, will be an important test for the company.

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