Tesla Inc. T.S.L. Shares of.
Wall Street’s second-most bearish analyst boosted its price target by 0.6% in pre-market trading, following the electric vehicle market leader’s offering of 5 5 billion. Ryan Brinkman of JPMorgan, which has been giving Tesla a lighter weight rating since at least February 2018, has lowered its target from $ 80 to $ 90, with a new target of 86.8% below Tuesday’s record closing price of $ 9..88. He said he recommends “not increasing their holdings in Tesla” to estimate its weight in the S&P 500 SPX.
When it enters the index on December 21, “because Tesla shares are in our view, and virtually every traditional metric, not just overvalued, but dramatically so.” He said the stock would be “based on an analysis of fundamentals” only if analysts evaluate the company based on its earnings prospects over the next five years. Of the 36 analysts surveyed by Factset, GLJ Research’s Gordon Johnson is the most bearish analyst at Brinkman, with a target of 40. The average rating is holding, and the average price target is $ 406.55. Shares of Tesla are 676.8% year-to-date rockets from Tuesday to date, while the S&P 500 SPX,
14.6% increase.
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