EV major Tesla’s (NASDAQ:TSLA) Gigafactory in Berlin, Germany, could be supplied with electricity by this evening, the power company in charge of fixing the outage stated on Monday. Production was halted at Tesla’s German Gigafactory last week due to a power outage. This happened after a high-voltage electricity pylon in a field near the site caught fire.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tesla had stated last week that it expected the power outage to last until March 15, but the works council chief of the company’s Brandenburg plant anticipated a restart this week. The outage halted Tesla’s production of around 1,000 cars per day and could cost the company around €100 million.
What Is the Target Price for TSLA Stock?
Analysts remain sidelined about TSLA stock with a Hold consensus rating based on 11 Buys, 19 Holds, and five Sells. Over the past year, TSLA stock has decreased by more than 25%, and the average TSLA price target of $210.78 implies an upside potential of 20.2% at current levels.
