Wall Street Sets New 12 Month Tesla Stock Target

Tesla shares dropped over 25 percent in July after second quarter earnings missed analyst expectations. Despite the dip, Stephen Gengaro, an analyst at Stifel Nicolaus, maintains a cautiously positive outlook for the company over the coming year. He kept a buy rating on the stock while reducing the 12 month price target from $508 to $491.

With shares trading near $311, the revised target suggests a potential upside of nearly 58 percent. The adjustment follows margin and earnings weaknesses reported in the recent financial results. Even so, the firm points to positive developments in full self driving technology, robotaxi initiatives, and a growing order backlog as reasons for optimism.

Broader Wall Street sentiment remains mixed, with consensus estimates pointing toward a more modest target near $382. Investors will want to watch upcoming delivery numbers and autonomous driving updates to see if the demand rebound takes hold.