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Home » Canaccord Genuity new $TSLA note, Tesla at a Crossroads – Canaccord Says ‘Mind the Gap’

Canaccord Genuity new $TSLA note, Tesla at a Crossroads – Canaccord Says ‘Mind the Gap’

Canaccord Genuity just cut his price target on $TSLA from $267 to $234

With a new $TSLA note out, Canaccord Genuity maintains its bullish view on Tesla’s long-term growth prospects, but questions remain about near-term momentum. As we enter 2024, is Tesla stock ready to electrify portfolios or poised for a growth pause?

Touting “vehicle autonomy as one of the highest value-creating technologies ever”, Canaccord sees Tesla as a leader in real-world AI with its vertically integrated manufacturing and razor/razorblade business model – think Apple tech on steroids meets sustainability behemoth, who doesn’t love the cyberpunk Cybertruck?

However, after a strong 2023 performance despite significantly lowered earnings estimates, Canaccord wonders if projections for 2024 and 2025 are optimistic enough, especially with a growth slowdown on the horizon. With already-tempered expectations, what will drive Tesla’s stock price in the near term?

As Tesla stands at a crossroads between future innovation and current execution, Canaccord maintains its $267 price target and Buy rating heading into the upcoming earnings call. The report should provide insight into whether margins can bounce back in a big way to catalyze earnings upside and reignite investor excitement after the growth pause.

In the gap between vision and reality, questions remain about Tesla’s ability to electrify portfolios in 2024. With muted near-term catalysts, is Tesla stock ready to shock markets or in for a growth pause? Mind the gap and stay tuned as Tesla navigates the winding road between ambition and accomplishment.

Related Post: Morgan Stanley’s Adam Jonas new $TSLA note, Tesla 2024 : Another Volatile Idiosyncratic Year

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