A Wall Street Analyst Says Tesla Stock Could Plunge 50%. Is It Time to Sell the Stock?
Wall Street analysts are becoming increasingly bearish on Tesla (NASDAQ: TSLA). Following the car maker’s first-quarter deliveries announcement, Wedbush analyst Daniel Ives called the report a “disaster” and said CEO Elon Musk needs to “get his act together.” However, Ives still has an “outperform” rating and a $550 target on the stock.
Wells Fargo analyst Colin Langan, meanwhile, has been far more critical of the stock, with an “underweight” rating and $130 price target on it. Before the deliveries announcement, Langan predicted that the number would disappoint, while also forecasting that its earnings are about to decline. After the electric vehicle (EV) maker’s 13% drop in Q1 deliveries, and given that its pricing has been…
