Phil LeBeau, a CNBC contributor who covers autos and airlines, joined CNBC’s Squawk Box to discuss the new data on EV sales. LeBeau saw a sequential loss in Tesla from Q1 to Q2, but he also mentioned other automakers eating up some of the market share from TSLA. He added:
TSLA chart and analysis
In the last month, TSLA has been trading in the $626.08 – $764.94 range, which is quite wide. TSLA key levels to watch have not changed much during this week, as the possible support has now risen to $699 from $695 identified at the beginning of the week. Similarly, the resistance zone has moved to a range between $752.30 and $760.01. Moreover, analysts rate the shares a moderate buy, predicting that the price shares will change hands in 12 months will reach $856.59, 20.46% higher than the current trading price of $711.12. In an initiation note authored on Wednesday, July 13, Truist analyst William Stein said Tesla could go back to “turbocharged” growth due to innovations in AI and EV production. The analyst assigned a buy rating to the shares and a price target of $1,000. Tesla is the current market leader among EV producers in the U.S., though the price target from Truist seems optimistic in the short term, innovations in self-driving capabilities and auto production could see another bull run in the stock. However, when and if, this will happen, remains to be seen. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
