Tesla (NASDAQ:TSLA) is set to host an eagerly anticipated Investor Day on March 1st, with CEO Elon Musk teasing the release of “Master Plan 3” details. Tesla stock saw its first weekly decline after a sharp six-week increase, following its usual pattern leading up to the event.
Tesla’s (NASDAQ:TSLA) “Investor Day” will take place next Wednesday, March 1st. Shares of Tesla are down 3.9% to $194.20 on Friday versus a 52-week trading range of $101.81 to $384.29. The stock price of Tesla has increased more than 80% since the start of 2023
At their Tesla Investor Day preview, Morgan Stanley analysts noted that they anticipate Tesla will display a range of technologies that could support the widespread utilization of electric cars. The electric vehicle manufacturer must create attractive electric vehicles at more affordable prices.
It is thought that, for this to be attainable, Tesla must successfully reduce the average cost of their products and, optimally, cut expenses to retain their leading margins in the industry.
The analysts further noted that if Tesla could prove its capability to produce a much cheaper version of its next platform, it would significantly bolster its competitive advantage, fortifying its product's protection, and allowing for multi-million unit deliveries by the end of the decade.
Emmanuel Rosner of Deutsche Bank has raised his price target for Tesla shares (NASDAQ: TSLA) from $220 to $250, citing details from their Investor Day event, particularly the reveal of their third Master Plan.
On Friday, Colin Langan of Wells Fargo said that anticipation is rising for Tesla's investor day on March 1, particularly for the unveiling of a more affordable electric vehicle. He noted, however, that producing a more cost-effective vehicle while still maintaining the automaker's usual profit margins could be a major obstacle.
Adam Jonas, an analyst from Morgan Stanley, viewed the event as crucial for underlining the story of Tesla and furthering or maintaining the surge in stock prices in 2023.
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