A bit of trouble in China left electric vehicle stock Tesla (NASDAQ:TSLA) on the back foot in Friday morning’s trading. A major software update that serves to address a recall is about to kick in, and Cybertruck testing is proving a bit of a mixed bag. That was enough to send Tesla down modestly in the session.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The latest recall effort to be addressed by the software update focuses on “…unstable rear camera integrated circuit communications owing to software issues.” Such a condition, reports note, may prevent the driver from having access to a full field of vision, which will increase the potential for vehicle collisions and similar safety hazards.
Meanwhile, at the Cybertruck Testing Range
While this is going on, the Cybertruck is getting tested with some noteworthy results. One test that featured highway driving didn’t return the results some were hoping for, but a subsequent test that featured both city and highway driving in “favorable weather” produced much better results overall. Other tests suggested mixed-bag performance issues, including surprisingly zippy acceleration and oddly shaped truck beds that might make them a bit less useful than conventional gas-powered pickups.
What Is a Fair Price for Tesla Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 12 Buys, 17 Holds, and five Sells assigned in the past three months, as indicated by the graphic below. After a 1.3% loss in its share price over the past year, the average TSLA price target of $218.75 per share implies 12.16% upside potential.
