Tesla Stock Has 17% Downside, According to 1 Wall Street Analyst
Following a disastrous first-quarter deliveries report, electric vehicle specialist (NASDAQ: TSLA) is being kicked while it's down by analysts. Analysts at HSBC took the opportunity to cut its price target on Tesla stock from $143 to $138 while maintaining a reduce rating.
That new price target implies a downside of nearly 17% from the current stock price.
Tesla delivered 386,810 vehicles in the first quarter, down about 8.5% year over year. There were some unusual circumstances, including shipping diversions caused by conflicts in or near the Red Sea and an arson attack at the company's factory in Berlin. However, it's becoming clear that Tesla is not immune to a sluggish demand environment for electric vehicles.
Source Fool.com
Tesla Inc Stock
€202.35
-0.520%
Our community is currently high on Tesla Inc with 73 Buy predictions and 29 Sell predictions.
With a target price of 245 € there is a positive potential of 21.08% for Tesla Inc compared to the current price of 202.35 €.
