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Nasdaq TSLA Tesla

Tesla Issues Model 3 and Model Y Recalls in U.S. and China

5 years 4 months ago
On Thursday, Tesla Motors (NASDAQ: TSLA) issued several recalls. The first covers 5,530 of the electric-vehicle (EV) maker's Model 3 and Model Y, its (relatively) budget-category sedan and SUV, respectively. In the case of the Model 3s, the affected cars span the years 2018 to 20

Tesla's Surprise Just Shocked the Stock Market

5 years 4 months ago
Like it or hate it, Tesla (NASDAQ: TSLA) gets a huge amount of attention from investors. When news affects the electric vehicle pioneer, people take notice -- and the moves of its stock can affect the entire market.Thursday was a generally weak day on Wall Street, as investor ent

Itching for a High-End Gaming Rig? Try a Tesla Model S

5 years 4 months ago
Electric-car company Tesla (NASDAQ: TSLA) might have a solution if you're looking for a specked-out gaming rig. New versions of the Tesla Model S and Model X cars come equipped with the same hardware that Sony puts into the latest and greatest PlayStation 5 gaming console.

Tesla to Spend $1B on Raw Materials from Australia to Develop Batteries – Report

5 years 4 months ago

Tesla (TSLA) will spend more than $1 billion a year acquiring raw materials for developing electric batteries. According to Reuters, the spending drive will mostly target Australia's mining industry, given the responsible mining practices in play.

The electric vehicle giant gets three-quarters of its lithium supplies from Australia. The country also accounts for more than a third of the company's nickel demand. Australia should benefit a great deal given the strong demand for electric vehicles and its rising need for energy storage facilities. (See Tesla stock analysis on TipRanks)

"Australian mining companies do have a good reputation, great expertise, professionalism and are preferred by manufacturers increasingly concerned about meeting both today's and the future's ESG requirements," said Robyn Denholm, Tesla Chairwoman.

Reuters reports that the country's lithium exports are poised to hit $773 million in 2021 with Nickel exports expected to hit $4 billion.

While Tesla gets the raw material for its batteries from Australia, it also supplies the country with batteries used to store energy captured by solar panels.

Morgan Stanley analyst Adam Jonas believes Tesla is well-positioned to profit from the U.S senate passing legislation that would eliminate caps on electric vehicle tax credits.

Jonas stated, "While it may be tempting to pick winners based on who may be eligible for the highest incentive on a 'per unit' basis, we believe the biggest beneficiaries of growing and extending BEV incentives will be based on who can produce the most BEVs (and batteries) to meet demand over the next few years."

The analyst recently reiterated a Buy rating on the stock with a $900 price target implying 48.73% upside potential to current levels.

Consensus among analysts on Wall Street is a Hold based on 10 Buy, 8 Hold, and 7 Sell ratings. The average analyst price target of $645.88 implies 6.74% upside potential to current levels.

TSLA scores a 7 out of 10 on TipRanks' Smart Score rating system, suggesting that the stock is likely to perform in line with market averages.

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