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1 Wall Street Analyst Thinks Tesla Stock Is Going to $120. Is It a Sell? [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
This happened recently with the beleaguered electric vehicle (EV) pace-setter Tesla (NASDAQ: TSLA) In mid-April, a prognosticator from a major U.S. bank got out his scissors for the second time in less than one month. Uncomfortably, this occurred barely over one week out from the company's scheduled first-quarter earnings release. A double cut for Tesla That analyst was Colin Langan from the investment wing of one of the "top four" lenders, Wells Fargo . Langan recently made another downward adjustment to his Tesla price target; it's now $120 per share, down from the preceding $125 per share . That, in turn, was lowered drastically by Langan from $200 in mid-March when he downgraded his recommendation to underweight (read: sell) from equal weight (hold). At the new $120 price target, it nearly goes without saying, Tesla still rates an underweight in the analyst's view. The target implies a nearly 26% downside from the current price over the next 12 months. "While we expect a
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