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Wall Street sets Tesla stock price for the next 12 months

Wall Street sets Tesla stock price for the next 12 months
Ana Zirojevic

With the pricing of its Cybertruck, which recently went to its first customers after four years since its initial revelation, threatening to put off many and add a strain on the price of its shares, experts are on the fence regarding the price of the Tesla (NASDAQ: TSLA) in the next 12 months.

As a reminder, the TSLA stock recorded a turbulent performance in 2023, especially between early March and late May, when its price struggled below the $200 threshold before rallying toward the yearly high of $293.34 on July 18, with the last week witnessing a decline of 4.28%. 

Wall Street weighs in on TSLA stock

That being said, a group of 33 Wall Street analysts is largely undecided, although leaning slightly toward bullish sentiment, on the price of the TSLA stock, rating it as a ‘Hold’ for now, on the basis of 13 votes, whereas 14 have declared it a ‘Buy’ and six advised ‘Sell.’

TSLA 12-month price forecast. Source: TipRanks

Furthermore, they have offered 12-month price targets in the last three months, placing the average at $245.89, which would suggest a slight increase of 2.95% to its price at press time, whereas the minimum prediction is $85 (-64.41%) and the maximum forecast stands at $380 (+59.2%).

Tesla stock price analysis

Elsewhere, TSLA is following a diagonal trend zone that “continued to prove to be a crucial level to get above if this really wants to take off,” according to the analysis by stock market expert Jake Wujastyk shared in an X post on December 6.

TSLA price action analysis. Source: Jake Wujastyk

As things stand, the price of TSLA at the time of publication amounted to $238.85, recording a 1.40% increase on the day, despite declining 4.22% in the previous week but also gaining 8.87% on its monthly chart, according to the most recent information retrieved on December 6.

Tesla 7-day stock price chart. Source: ChartMill

At the same time, Tesla is trading in the upper part of its 52-week range, albeit lagging behind the S&P500 Index, which is trending near a new high. Moreover, it has been changing hands at a quite wide range between $205.69 and $252.75 in the last month.

On top of that, it has been an average performer lately, with a neutral outlook in the short term, which goes in hand with the Wall Street experts’ analysis but still sticks to a positive long-term trend, as it stands out as one of the better-performing stocks in the automobile industry.

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