Tesla Stock Has 27% Downside, According to 1 Wall Street Analyst
's (NASDAQ: TSLA) stock price is down 29% year to date due to concerns over a weak outlook for electric vehicle (EV) deliveries amid rising interest rates. These headwinds may continue to weigh on the share price, according to analysts at Wells Fargo.
The firm maintained an underweight (sell) rating on the stock with a price target of $125, representing a potential downside over the next 12 months or so of nearly 29% from Tesla's current share price.
Wells Fargo's analyst expects the company to deliver roughly the same amount of vehicles in 2024 as last year -- about 1.8 million. That's a break from Tesla's usual high growth in revenue and deliveries every year.
Source Fool.com
Tesla Inc Stock
€196.88
3.910%
Our community is currently high on Tesla Inc with 74 Buy predictions and 28 Sell predictions.
With a target price of 247 € there is a positive potential of 25.46% for Tesla Inc compared to the current price of 196.88 €.
