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
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 €.