Posted 4/11/2024, 9:45:21 PM
Tesla Stock Outperforms Broader Market as Q1 Earnings Approach, But Valuation and Ranking Remain Concerns
- Tesla (TSLA) stock closed 1.65% higher in latest trading session, outpacing broader market gains
- TSLA has gained 1.35% over past month, exceeding auto sector and S&P 500
- Tesla set to report Q1 2024 earnings on April 23; EPS estimate revised 7.76% lower amid short-term business trend changes
- Based on valuation metrics like P/E and PEG ratio, TSLA trading at premium to industry averages
- TSLA carries Zacks Rank #4 (Sell); automotive industry ranked in top 37% of Zacks sectors