On July 17, 2023, Wedbush maintained an “Outperform” rating for Tesla (NASDAQ:TSLA) despite projecting a significant price decline. The analysts set an average one-year price target of $209.49, indicating a 27.86% decrease from Tesla’s closing price of $290.38 on July 6, 2023. Price targets vary from as low as $24.58 to a high of $351.75.
Tesla’s projected annual revenue for 2023 stands at $118.52 billion, reflecting a 37.75% increase, while the expected non-GAAP EPS is $5.70. Institutional investment in the company has risen, with a total of 4,060 funds reporting positions in Tesla, marking an increase of 222 funds and a 5.78% growth over the last quarter. The average portfolio weight allocated to Tesla has reached 1.10%, a rise of 24.54%, with total institutional shares owned rising to 1,552,051,000, a slight 0.05% increase in three months.
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