Tesla Bulls Should Brace Themselves. Shares Could Take a Big Hit.
Shares of electric-car maker (NASDAQ: TSLA) have had a good run this year. But has the stock's valuation gotten ahead of itself? One analyst thinks so.
Financial services company HSBC initiated coverage of the growth stock today with a "reduce" rating, or a rating similar to a sell rating. In a sobering note for Tesla bulls, the analyst's 12-month price target for the stock sits at $146. This would translate to significant downside for the stock from here.
Here's why HSBC's Michael Tyndall is so pessimistic about Tesla shares.
Source Fool.com
Tesla Inc Stock
€193.72
4.100%
Our community is currently high on Tesla Inc with 76 Buy predictions and 28 Sell predictions.
With a target price of 247 € there is a positive potential of 27.5% for Tesla Inc compared to the current price of 193.72 €.
