EV manufacturer Tesla (NASDAQ:TSLA) stated in its annual filing on Monday that its capital expenditures will exceed $10 billion in FY24, up by 12.4% year-over-year. This exceeds the consensus estimate of $9.8 billion. In FY25 and FY26, the company anticipates capex to fall in the range of $8 billion to $10 billion.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
The firm stated that its capital expenditures remain challenging to forecast long-term due to numerous ongoing core projects and potential market uncertainties. Tesla added that it is expanding its manufacturing, battery tech, Supercharger networks, and AI globally. As such, its capex varies based on project priority, milestones, production adjustments, efficiency gains, and new initiatives.
Tesla’s fourth-quarter results were disappointing as they missed Street estimates.
What Is the Stock Price Forecast for Tesla?
Analysts remain sidelined about TSLA stock with a Hold consensus rating based on 12 Buys, 15 Holds, and six Sells. Over the past year, TSLA stock has gained by more than 9%, and the average TSLA price target of $222.36 implies an upside potential of 21.3% at current levels.
