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Tesla shares are growing steadily


June, 07 2023
watermark Economic news

Shares of electric car manufacturer Tesla continue to show strong growth on the stock exchange. At today's trading session, the securities increased in price by 3.2%, demonstrating positive dynamics for the ninth day in a row.


Analysts note that this is the longest period of price growth since January 2021, when the company's shares also increased in price for 11 consecutive days. Over the past eight sessions, Tesla's capitalization has grown by 21%, reaching the highest level in the last seven months.


At the moment, experts recommend the purchase of Tesla shares with a target price of $ 280 per unit, which implies a potential growth of 25%. It is estimated that the fair value of Tesla's automotive business is about $135 per share, while the company's other areas of activity – the production of solar panels, batteries and software – are estimated at $145 per share.


Pierre Ferragu, an analyst at New Street Research, offers the highest valuation of Tesla shares among the leading financial companies on Wall Street, setting the price at $300 per share. The average target cost is about $192.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.