Argus keeps a Buy rating and $316 price target on Tesla while naming the stock as one of the firm’s 2024 Top Picks. Tesla has been challenged by a sluggish environment for electric vehicles as rising interest rates, elevated inflation, and supply-chain disruptions have pushed demand lower, but in 2024, these factors are set to turn positive as interest rates trend lower, benefitting customer affordability, inflation de-accelerates, benefitting vehicle manufacturing costs, and supply chains improve, the analyst tells investors in a research note.
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