Analyst Forecasts Tesla Shares Will Reach $280 In A Year via insideevs.com
, nor have we been paid by EVANNEX to publish these articles. We find the company's perspective as an aftermarket supplier of Tesla accessories interesting and are happy to share its content free of charge. Enjoy!’s stock has dropped some in the weeks since the automaker’s Q1 2023 earnings call, with some citing concerns around slowed inventory turnover and price cuts.
The news comes as some analysts have dropped price targets on Tesla’s shares in recent weeks, even including Potter. Many have cited concerns about the company’s dipping profit margins following price cuts across its lineup. Prior to the earnings call, Potter previously held a $300 12-month price target on Tesla’s stock, noting lowered estimates for 2023-2025 in his newest update.
In response to margin concerns during the earnings call, Tesla CEO Elon Musk emphasized the company’s long-term objectives for autonomy, which he and bulls argue would drive significant profits no matter what margins the vehicles are selling for. Potter holds this view too, as part of his reasoning behind the still-bullish target.
Although Potter doesn’t expect Tesla’s Full Self-Driving beta to reach total autonomy this year or anytime soon, he still echoes that Musk is right about potential future profits through a . He also highlights Tesla’s impressive free cash flow and potential for margin expansion, as well as the automaker’s rare ability to finance its own business compared to much of the industry.
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