William Blair analyst Jed Dorsheimer has maintained their neutral stance on TSLA stock, giving a Hold rating yesterday.
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Jed Dorsheimer has given his Hold rating due to a combination of factors impacting Tesla’s stock. The recent end of the $7,500 EV tax credit has led to a surge in U.S. demand, prompting an increase in delivery estimates for the third quarter. However, there are concerns about future margins due to a potential decrease in auto deliveries and lower regulatory credit revenue in the upcoming quarter.
Despite these concerns, the stock has been driven to near all-time highs by positive momentum from developments in robotaxi technology, Elon Musk’s stock purchase, and new energy storage products. While these factors have bolstered the stock’s performance, Dorsheimer finds it challenging to justify a more bullish stance given the potential headwinds in the near term.
According to TipRanks, Dorsheimer is a 5-star analyst with an average return of 30.7% and a 53.09% success rate. Dorsheimer covers the Technology sector, focusing on stocks such as SolarEdge Technologies, Axcelis Technologies, and Applied Materials.
In another report released yesterday, Barclays also maintained a Hold rating on the stock with a $275.00 price target.