“While Tesla has built a very dedicated fan base that has been willing to excuse poor build quality, customer service, and service infrastructure, we continue to be skeptical around broader adoption,” Osborne said. He rates the shares underperform with a price target of $210, implying a 51% decrease. Of the analysts tracked by Bloomberg, 15 analysts rate the shares the equivalent of a sell, while 11 rate it buy and 10 hold, with an average price target of $297.
Some other bearish analysts also raised their prices targets after the third-quarter numbers. Credit Suisse analyst Dan Levy took his price target from $189 to $200 a share, and J.P. Morgan analyst Ryan Brinkman raised his from $200 to $220 a share.
Ives maintained a price target on Tesla stock of $270, with a neutral rating.
Investors Business Daily, 11/22/19
Can Tesla Ever Be More Than a Niche Automaker? Wall St. Increasingly Thinks No
New York Times, 6/3/19
Cross-Sell Interactive is trying to give investors a new edge on Tesla stock by tracking new-vehicle registration data in two dozen states. Cross-Sell’s third quarter report—released Monday evening—is alarming, showing lower prices and stagnant sales.
Goldman: Tesla’s earnings and deliveries likely to disappoint this quarter, so sell the stock
Just because it trades 22% off its high ($302), does not make Tesla a buy.
I expect the stock to continue to fall over the rest of the year and into 2020, as Tesla continues to miss its targets as a result of under-investment, constant turnover in the executive ranks, and unrealistic promises.
I will not be surprised to see the Shanghai Gigafactory run behind schedule and fail to start production this year.
At this point, TSLA stock has had several months of poor performance, both in terms of metrics and the stock price. Therefore, before committing any capital into the shares, I’d like to see the next earnings statement, expected in late October. By then, we might even have an earnings warning statement, which would send the stock even further south.
Forget $300, Can Tesla Stock Reliably Get Back to $200?