Billionaire and Chief Executive of Tesla (TSLA), Elon Musk always keeps things interesting. Thanks to Musk's innovative approach, Tesla has disrupted the auto industry and forced it to embrace electric vehicles, even in China. However, his unpredictable behaviour prompts the question of whether it's a good time to buy or sell TSLA stock. Although TSLA stock has experienced some ups and downs, it's still considered a promising investment.
Mizuho analyst Vijay Rakesh maintains a buy rating and price target of 250 for TSLA stock, citing Tesla's position as the global EV leader, with advantages in vertical integration and self-driving technology that result in stronger margins. During its Analyst Day event in March, Tesla reaffirmed its goal of selling 20 million vehicles annually and expects electric car demand to remain high due to government policies and growing interest. Tesla's future growth prospects look promising.
Currently, TSLA stock is experiencing resistance at its 200-day moving average, but it's still holding above its 50-day moving average. If it can break through the 200-day line, it would provide a good buy point at 217.75. According to the IBD Stock Check-up tool, Tesla has a Composite Rating of 87 out of 99, indicating strong potential gains.
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