Tesla is Still the Best EV Stock

The electric vehicle market is America's fastest-growing automotive market. If you want a holding in the future of transportation, Tesla (NASDAQ: TSLA) is the strongest pick. Tesla shares have slid in 2022. But with a projected upside, there's a lot of value in this pick. Tesla is recovering well from the Coronavirus Pandemic. The recent pullback in the stock is linked to a general slide in U.S. markets. But Tesla has strong fundamentals that inspire confidence. First quarter results were positive. Tesla beat analyst projections on both the top and bottom lines. It hit a record margin of 32.9%. Earnings per share came in at $3.22, compared to the average prediction of $2.26. Automotive revenue increased by 87% year over year. The company expects unit deliveries to increase by 50% year over year in 2022. The company's performance is expected to support stock price growth on the other side of the dip. The average analyst target of $969.46 suggests a massive upside over today's price of $747.24. Tesla's position as an EV market leader makes it a strong bet. The target price makes an even stronger argument to invest while this stock is down. Looking for bargain stocks with growth on the horizon? These investment strategies can help you succeed. The information above is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. The opinions are our own and we have not been compensated in any way to review the symbols mentioned above.  sponsored ads below What Is the Next Gen Coin? Experts are saying it will be 20 times bigger than bitcoin at its all-time high. 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