Tesla is starting from behind in 2023 after posting a brutal annual loss for 2022, but investors may not want to write off the stock just yet, Neuberger Berman analyst Daniel Flax said Monday. Flax said on CNBC’s “Squawk Box” that the electric vehicle maker could represent a major buying opportunity at current levels, calling it a leader in its field and highlighting its ability to introduce new services to its offering. On Friday, Tesla briefly fell to its lowest level since August 2020 after the company cut prices for its Model 3 and Model Y vehicles in China. It ended the week down 8% after posting a roughly 65% drop for 2022. TSLA YTD Mountain Tesla shares fell 8% in the first week of the year. “I would be a buyer at current levels,” Flax said, declining to give a specific target. “If auto growth continues over the next few years and free cash flow growth continues, I expect the shares to go significantly higher,” he added. “It’s obviously going to be volatile, but if they execute on it, I think they’re going to overcome some of the cyclical dynamics that we’re certainly seeing in the near future.” Flax, whose company has more than $400 billion in assets under management, is not alone with his long-term optimistic assessment of Tesla. Despite recent demand pressures and the stock price slump, several Wall Street analysts see a buying opportunity for Tesla in 2023, and last week reiterated their buy or outperform ratings on the shares.
https://www.cnbc.com/2023/01/09/tesla-is-a-buying-opportunity-at-current-levels-says-neuberger-berman-analyst.html Tesla is a buying opportunity at current levels, says analyst Neuberger Berman