Stock split summer is underway and Amazon (NASDAQ:AMZN) has successfully executed one already. Now investor focus has shifted to the next high-growth company that is planning to split its stock. Tesla (NASDAQ:TSLA) shareholders will vote on August 4 but there is little reason to believe the motion will fail. Investors remember the first TSLA stock split of 2020 and the impressive returns it netted for them. As the catalyst draws near, investors are consider an important question: Should I buy more TSLA stock before the split?

As TSLA stock has slipped recently, it has seen several analyst downgrades. Names such as Dan Ives and Alexander Potter have downgraded their TSLA price targets, citing production concerns and lack of trust in Musk’s leadership. But as the Tesla stock split nears, plenty of investors remain generally bullish on the stock. Shares have traded well today and are close to pulling back into the green for the week after a steep decline on June 2 when Elon Musk expressed a negative feeling about the economy.

Musk is feeling “super bad” about the economic landscape. However, most of Wall Street still regards TSLA stock as a “buy.” Analysts are regarding Tesla with caution but still see the current dip as a buying opportunity.

Let’s take a look at what industry experts are saying as the Tesla stock split approaches.

TSLA Stock Split: Analysts Weigh In

• Vijay Rakesh of Mizuho Securities recently upgraded his rating for TSLA and set a bullish price target of $1,300. He praised the company for successfully executing despite market turbulence. As he outlined in a note to clients:

We believe TSLA has potentially ~1.4M of its 1.5M C22E target units that could be produced at just Fremont and primarily Shanghai as the major hub. But with Shanghai residents/logistics still mostly in lockdown, we believe Giga-Shanghai reopening will likely be slower than expected, with headwinds in intra- and inter-city logistics a nearterm JunQ drag.

• New Street’s Pierre Ferragu also recently reiterated a “buy” rating. His price target of $1,580 is currently the highest set for TSLA stock on Tipranks. However, the analyst accounts for the economic and industry headwinds facing Tesla in the current quarter. Per Barron’s: “Ferragu, for his part, projects 251,000 deliveries, down from about 310,000 in the first quarter. The second quarter will break a streak of eight consecutive quarters of record deliveries.” Ferragu also believes Tesla is likely to only break even in terms of free cash flow (FCF). And he has a far more downbeat view than the $1.3 billion consensus FCF figure. Yet he remains a bull on TSLA stock, rating it at “buy,” with a price target of $1,580.
• Mark Delaney of Goldman Sachs recently lowered his TSLA stock price target from $1,200 to $1,000. But he still sees it as a “buy.” While the firm is lowered its global forecast for the auto industry, Pulse 2.0 reports that “Delaney is expecting volumes to continue rising with the latest search data showing strong electric vehicle demand — which is largely being driven by soaring gas prices.”

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.