Tesla Up 40% Since Late-April Lows: Analyst Outlines 4 Factors That Can Keep Stock Turbocharged

Tesla, Inc. (NASDAQ:TSLA) shares have been on a tear in recent sessions and an analyst weighed in on what would keep the stock ticking up.

© Provided by Benzinga

What Happened: For Tesla’s stock to go higher, the electric vehicle maker’s volumes have to grow by more than 39% in 2023 and more than 27% in 2024, which is the current Wall Street consensus, said fund manager Gary Black in a tweet. The other positive influences the Tesla bull mentioned include:

Load Error

22% Compounded annual growth rate of volume between 2023 and 2027 Stable ASPs Gross margin, excluding regulatory credits, rising

“Any combo of global EV adoption, $TSLA EV share, or overall TSLA share growth above this level of [delivery] growth will be viewed positively,” the fund manager said.

Trending: Disney’s Lawsuit Against DeSantis Heats Up With New Judge, But Experts Are Already Seeing Trouble For The

Must Read: Elon Musk Takes Swipe At Rivals’ Self-Driving Technology: ‘Brittle And Unscalable’

See Also: Everything You Need To Know About Tesla Stock

2-Variable Forecasting: Black noted that analysts have been using global EV adoption and Tesla’s EV segment share to predict future volumes for years.

“Any combo of EV adoption and TSLA EV share that delivers that level of vol growth or higher is positive for $TSLA stock,” he said.

Using two variables for forecasting rather than one is generally accurate, Black said. He noted that Apple investors have been forecasting smartphone adoption and the company’s smartphone share for years to predict iPhone shipments.

“Even if TSLA BEV share falls modestly TSLA stock can do well if soaring EV adoption offsets it,” he said.

Tesla shares bottomed at $152.37 (intraday basis) on April 27 and have soared over 40% as they ended Friday’s session at $213.97.

In premarket trading on Monday, Tesla shares edged up 0.25% to $214.50, according to Benzinga Pro data.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read Next: Tesla To The Moon? Why Elon Musk Hints Nvidia’s Large-Cap Dominance Is Only ‘For Now’

Latest Ratings for TSLA

View More Analyst Ratings for TSLA

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

This article Tesla Up 40% Since Late-April Lows: Analyst Outlines 4 Factors That Can Keep Stock Turbocharged originally appeared on Benzinga.com.

Continue Reading

thewealthiestinvestor.com is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of thewealthiestinvestor.com are not acting as investment advisors and might not be registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory.

The sender of this email makes no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended in this email, and makes no representations or warranties concerning said company or entity’s compliance with applicable laws and regulations, including, but not limited to, regulations promulgated by the SEC or the CFTC. The sender of this email may receive a portion of the proceeds from the sale of any products or services offered by a company or entity mentioned or recommended in this email. The recipient of this email assumes responsibility for conducting its own due diligence on the aforementioned company or entity and assumes full responsibility, and releases the sender from liability, for any purchase or order made from any company or entity mentioned or recommended in this email.

The content on any of thewealthiestinvestor.com websites, products or communication is for educational purposes only. Nothing in its products, services, or communications shall be construed as a solicitation and/or recommendation to buy or sell a security. Trading stocks, options and other securities involves risk. The risk of loss in trading securities can be substantial. The risk involved with trading stocks, options and other securities is not suitable for all investors. Prior to buying or selling an option, an investor must evaluate his/her own personal financial situation and consider all relevant risk factors. See: Characteristics and Risks of Standardized Options.

The information presented in this site is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. Nothing in our research constitutes legal, accounting or tax advice or individually tailored investment advice. Our research is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive or obtain access to it. Our research is based on sources that we believe to be reliable. However, we do not make any representation or warranty, expressed or implied, as to the accuracy of our research, the completeness, or correctness or make any guarantee or other promise as to any results that may be obtained from using our research. To the maximum extent permitted by law, neither we, any of our affiliates, nor any other person, shall have any liability whatsoever to any person for any loss or expense, whether direct, indirect, consequential, incidental or otherwise, arising from or relating in any way to any use of or reliance on our research or the information contained therein. Some discussions contain forward looking statements which are based on current expectations and differences can be expected. All of our research, including the estimates, opinions and information contained therein, reflects our judgment as of the publication or other dissemination date of the research and is subject to change without notice. Further, we expressly disclaim any responsibility to update such research. Investing involves substantial risk. Past performance is not a guarantee of future results, and a loss of original capital may occur. No one receiving or accessing our research should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing any applicable prospectuses, press releases, reports and other public filings of the issuer of any securities being considered. None of the information presented should be construed as an offer to sell or buy any particular security. As always, use your best judgment when investing.

Disclaimer: Past performance is no guarantee of future performance. This product is for educational purposes only. Practical application of the products herein are at your own risk and thewealthiestinvestor.com, its partners, representatives and employees assume no responsibility or liability for any use or mis-use of the product. Please contact your financial advisor for specific financial advice tailored to your personal circumstances. Any trades shown are hypothetical example and do not represent actual trades. Actual results may differ. Nothing here in constitutes a recommendation respecting the particular security illustrated.