Mike
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- HSBC analyst Michael Tyndall initiated coverage on Tesla with a Sell rating and a $146 price target, causing the stock to drop 5.2%.
- Tyndall projects an average annual sales growth rate of 13% for Tesla’s car business between 2023 and 2030.
- Canaccord analyst George Gianarikas rates Tesla as a Buy and projects closer to a 20% average annual sales growth.
- Future Fund Active ETF co-founder Gary Black is even more bullish, projecting 10.2 million units sold in 2030 with an average price of $47,000.
- The difference in growth projections between analysts leads to a significant variance in projected market value for Tesla’s car business by 2030.
- Valuing growth stocks like Tesla is challenging due to the significant impact of small differences in growth rates over time.
- Investors’ belief in Tesla’s future car sales volume greatly influences their perception of the stock.