Recall Announcement: Tesla is recalling approximately 10,500 Powerwall 2 energy storage systems due to overheating and fire risks identified by U.S. safety regulators, with 22 reported overheating incidents and no injuries reported.
Safety Measures: The U.S. Consumer Product Safety Commission has advised customers to check their Tesla app for affected units, while Tesla has remotely discharged energy from impacted systems as a temporary safety measure.
Financial Impact: Following the recall announcement, Tesla's stock (TSLA) fell by 6.25%, trading at $403.70.
Product Details: The recalled units were sold online and installed by certified providers between late 2020 and the end of 2022, with all affected batteries required to be replaced.
Wall Street analysts forecast TESL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TESL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast TESL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TESL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
0 Hold
0 Sell
Current: 16.360
Low
Averages
High
Current: 16.360
Low
Averages
High
No data
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.