Tesla Stock Doubled in 2023. Here's Why It's Still a Buy Heading Into 2024.
Shareholders in Tesla (NASDAQ: TSLA) have tolerated a volatile year. The stock has popped and then dropped. Even when CEO Elon Musk has made news unrelated to the company, investors -- rightly or wrongly -- seem to move Tesla stock as a result.
The business itself has had concerns related to vehicle pricing and a downward trend in profit margins. But in the end, Tesla stock has risen 105% this year into the final week of 2023.
While that has stretched the stock's valuation to loftier levels, there are compelling reasons to want to own Tesla shares heading into 2024.
Source Fool.com
Tesla Inc Stock
€169.56
0.810%
Currently there is a rather positive sentiment for Tesla Inc with 56 Buy predictions and 27 Sell predictions.
As a result the target price of 242 € shows a positive potential of 42.72% compared to the current price of 169.56 € for Tesla Inc.
