The FBI announced on Monday that it is teaming up with the Bureau of Alcohol, Tobacco, Firearms and Explosives to investigate a series of attacks targeting Tesla (TSLA), the electric vehicle company led by Elon Musk. The new task force comes after a bomb squad found several incendiary devices at a Tesla showroom in Austin, Texas, where the company is headquartered. This incident is part of the ongoing threats and acts of vandalism that have been connected to Musk’s role as head of the Department of Government Efficiency, which is focused on cutting government spending and jobs.
FBI Director Kash Patel said that the agency is increasing its efforts to respond to the violence. In a post on X, the social media platform owned by Musk, Patel called the situation “domestic terrorism” and promised that those responsible would be caught and prosecuted. The task force was first reported by the New York Post.
Separately, Tesla’s vice president of Environment, Health and Safety and Security, Laurie Shelby, has not publicly commented on how the company plans to protect its facilities. However, Elon Musk briefly addressed the attacks during a company event last Thursday by telling employees that news coverage made the situation feel like “Armageddon” and described those setting Tesla cars on fire as “psycho.”
Is Tesla a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 14 Buys, 11 Holds, and 11 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $335.32 per share implies 20.45% upside potential.
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