JPMorgan (JPM) is looking for Tesla’s (TSLA) stock to lose a good amount of its charge.

“With expectations for Tesla performance having collapsed for all financial and performance metrics across all time periods through the end of the decade, the +50% rise in Tesla shares and +32% increase in analyst price targets as this collapse has taken place implies an expectation for a sharp pivot to materially better than earlier expected performance in the time beyond this decade,” JPMorgan analyst Ryan Brinkman wrote in a note out on Monday.

“We advise investors cautiously approach this expectation within the context of both execution risk and the time value of money,” he said.

Added Brinkman: “Investors should in our view be…