A few catalysts have set Tesla up for more outperformance in the coming months, according to Canaccord Genuity.
Analyst George Gianarikas, who has a buy rating on the electric vehicle maker, hiked his price target by $20 to $298.
"Tesla's stock underperformed since the beginning of 2022 as [profit and loss] trends deteriorated," he continued.
"Longer term, Tesla also has a generational set of growth opportunities ahead, including EVs, autonomy/AI, energy storage, and robotics," he said.
TSLA YTD mountain TSLA, year-to-date Shares were marginally higher in the premarket following the move.
Persons:
Canaccord, George Gianarikas, Gianarikas, Tesla, Elon Musk
Locations:
1Q24