Tesla (TSLA) shares are up by more than 4% on Friday to their highest point since February. The stock has now risen for three weeks in a row by nearly 15% over that time. Unsurprisingly, investors were encouraged by trade news after President Trump suggested cutting tariffs on Chinese goods, following a recent U.S.-UK trade deal. Confidence also grew after CEO Elon Musk said he would spend more time on Tesla as he steps back from government-related work.
Still, not everything is looking good for Tesla. Indeed, in Europe, sales have been weak. In the UK, Tesla registered just 512 new vehicles in April — a 62% drop from last year. At the same time, Germany, where Tesla’s European factory is located, saw a 46% decline. Other key markets had even larger drops: 59% in France, 67% in Denmark, and 81% in Sweden. First-quarter sales also came in lower than expected, which continued a trend of slowing demand in the region.
Tesla is also working to boost sales in the U.S. The company recently launched a cheaper rear-wheel-drive version of the Model Y that starts at $46,630 before incentives. It also added low-interest financing to encourage buyers. Still, some reports show that the more expensive Model Y Launch Editions are piling up in showrooms, which could mean weaker demand. Despite these issues, investors remain focused on trade policies, Musk’s return to Tesla, and future plans like robotaxis, all of which continue to drive the stock higher.
What Is the Prediction for Tesla Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 16 Buys, 10 Holds, and 11 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $283.69 per share implies 1.2% upside potential.
