Tesla (TSLA, Financial) has hit a snag in its plans to roll out a more affordable version of the Model Y. According to insiders, the automaker's global production timeline is now set back by several months from its original schedule. While Tesla had anticipated commencing production sooner, the updated projections now suggest a start from the third quarter through early next year.
This delay impacts the manufacturing of the lower-cost Model Y, which is planned to start in the United States. The adjust in schedule reflects the challenges and complexities involved in scaling the production of Tesla's budget-friendly electric vehicle.
Investors and industry observers will be closely watching Tesla's next moves as the company navigates this setback while continuing to focus on expanding its market presence with more accessible electric vehicle options.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 44 analysts, the average target price for Tesla Inc (TSLA, Financial) is $305.34 with a high estimate of $465.70 and a low estimate of $24.86. The average target implies an upside of 26.50% from the current price of $241.37. More detailed estimate data can be found on the Tesla Inc (TSLA) Forecast page.
Based on the consensus recommendation from 54 brokerage firms, Tesla Inc's (TSLA, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Tesla Inc (TSLA, Financial) in one year is $289.51, suggesting a upside of 19.94% from the current price of $241.37. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Tesla Inc (TSLA) Summary page.
