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On September 12, 2023, RBC Capital reiterated its Outperform recommendation for Tesla (NASDAQ:TSLA). The average one-year price target for Tesla is set at $244.62, indicating a 10.59% downside from its latest closing price of $273.58.
Tesla’s projected annual revenue is estimated at $118.5 billion, reflecting a 26.04% increase, with a projected non-GAAP EPS of $5.70. Currently, 4,170 funds report positions in Tesla—a 4.09% increase, though total institutional shares owned have decreased by 3.71% to approximately 1.5 billion shares.
The put/call ratio for Tesla stands at 0.82, suggesting a bullish market outlook. Notable fund holders include Vanguard Total Stock Market Index Fund (84 million shares) and Vanguard 500 Index Fund (64 million shares), both increasing their stakes in recent quarters.
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