Analysts Duel Over Tesla Stock -- and the Latest News Is Bad
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
Tesla (NASDAQ: TSLA) stock is on a rocket ship -- up more than 80% over the past year -- but is that rocket about to crash?
That's the disturbing conclusion of an analyst note just out today from the bankers at Jefferies & Co., who worry that despite absorbing SolarCity's solar panel business, and despite building a gigafactory to churn out batteries for its cars -- and putting all of this under the same roof as its Tesla electric car business -- Tesla is not likely to reap much benefit from building a vertically integrated electric-powered company. And that's bad news for Tesla's stock price.
Source: Fool.com