Tesla Stock Tumbles Again. Will the Stock Keep Falling?
Shares of Tesla (NASDAQ: TSLA) were falling again today, this time on a bearish analyst rating.
HSBC initiated coverage on the stock with a rating of "reduce" and a $146 price target. The analyst offered a novel argument against Tesla stock, saying that the company is increasingly pitching itself as a business built around artificial intelligence (AI), and autonomous vehicles and robots, rather than electric vehicles (EVs). That is inherently much riskier than being a carmaker, and for that reason, the stock should have a higher cost of capital due to the regulatory and technological challenges it faces in the transition, making the stock worth less.
Image source: Tesla.
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 €.
