Why Tesla Stock Stepped on the Brakes Wednesday Morning
Shares of (NASDAQ: TSLA) skidded off the road Wednesday morning, falling as much as 6.1%. As of 2:07 p.m. ET, the stock was still down 4.6%.
The catalyst that sent the electric vehicle (EV) maker lower was a slightly bearish call by a Wall Street analyst, but the devil's in the details.
Barclays (NYSE: BCS) analyst and Wall Street veteran Dan Levy downgraded Tesla stock to equal weight (hold) from overweight (buy) while simultaneously raising his price target to $260 from its previous level at $220, according to The Fly. It's worth noting that the increased price target was the analyst playing catch-up, as the stock closed at $274.45 on Tuesday.
Source Fool.com
Tesla Inc Stock
€190.98
2.590%
Currently there is a rather positive sentiment for Tesla Inc with 75 Buy predictions and 28 Sell predictions.
As a result the target price of 246 € shows a positive potential of 28.81% compared to the current price of 190.98 € for Tesla Inc.
