1 Wall Street Analyst Thinks Tesla Stock Is Going to $120. Is It a Sell?

There's hardly a better way for an analyst to signal his or her bearishness on a stock than to cut their price target more than once. This happened recently with the beleaguered electric vehicle (EV) pace-setter (NASDAQ: TSLA).

In mid-April, a prognosticator from a major U.S. bank got out his scissors for the second time in less than one month. Uncomfortably, this occurred barely over one week out from the company's scheduled first-quarter earnings release.

That analyst was Colin Langan from the investment wing of one of the "top four" lenders, Wells Fargo. Langan recently made another downward adjustment to his Tesla price target; it's now $120 per share, down from the preceding $125 per share. That, in turn, was lowered drastically by Langan from $200 in mid-March when he downgraded his recommendation to underweight (read: sell) from equal weight (hold).

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Source Fool.com