1 Wall Street Analyst Thinks Tesla Stock Is Going to $404. Is It a Buy?

Core Viewpoint - Tesla shares have rebounded after a poor start to the year, with a Wall Street analyst suggesting a potential upside of nearly 50% despite a 30% decline in shares so far this year [1] Group 1: Analyst Insights - Canaccord analyst George Gianarikas believes that Tesla shares could see significant returns, especially after a recent bounce of over 20% in the last week [1] - Gianarikas conducted a survey of over 1,000 consumers, revealing that most respondents are more likely to purchase a Tesla compared to a year ago, although over 20% are less likely due to Musk's political involvement [3] Group 2: Market Sentiment and Political Influence - Elon Musk's political activities have created mixed sentiments among investors, with initial optimism reversing as reports of slumping sales emerged [2] - Despite the controversies surrounding Musk, Gianarikas maintains a positive outlook, suggesting that fewer consumers are influenced by politics than anticipated [4] Group 3: Upcoming Financial Data - Tesla is set to release its first-quarter sales results on April 2, which will be crucial for investors to monitor, as it will provide insights into quarterly production and deliveries [5] - The potential for share price volatility exists, with Gianarikas setting a price target of $404, indicating that shares may experience fluctuations before reaching this target [5]