Investing.com poll: Will Tesla stock hit $500 per share by the end of 2024?

Investing.com -- With Tesla (NASDAQ:TSLA )'s stock closing in on the $400 per share mark, Investing.com's poll this week aims to assess the investor sentiment regarding how far it can run by the end of the year.

Tesla shares closed Monday's session at $389.79 after climbing as high as $404 a share earlier in the day. Premarket Tuesday, the stock is up 1% at $393.74.

So, with a close above $400 potentially on the horizon: Will Tesla Hit $500 per Share By The End of 2024?



Analysts are unsure. In a note to clients, Morgan Stanley (NYSE:MS ) raised its target for Tesla to $400, although they reiterated it as a top pick.

Meanwhile, Cantor Fitzgerald's latest price target increase suggests they do not expect Tesla to hit $500 a share. The firm raised its target on Tesla to $365 from $255 while maintaining a Neutral rating.

The firm said in a note today that they are becoming more bullish on Robotaxi and SelfDriving. However, they remain neutral on the electric vehicle company's valuation and await a better entry point.

"We are becoming more bullish on Tesla's Robotaxi segment, following President-elect Trump's plans to potentially develop a federal framework for self-driving vehicles in the United States, and an update to the company's FSD software," said Cantor Fitzgerald. "If [the] framework is established by the Transportation Department, then we see Tesla as a major beneficiary."

They added: "Last week TSLA released an update to its autonomous software via FSD version 13.2, which includes several enhancements such as reverse driving and auto-parking at the start and the end of journeys. While this updated software has only been released to limited customers thus far, the feedback has been quite positive in our conversations, bringing Tesla closer to its Robotaxi launch."

Source: Investing.com