#1 - Tesla (NASDAQ:TSLA)
In the last 90 days, Tesla Inc. (NASDAQ: TSLA) has received 30 downgrades, the most downgrades of any stock tracked by MarketBeat. That’s not surprising. At any given time, Tesla receives a significant number of downgrades. However, 20 of those downgrades came in April, specifically since Tesla delivered a disappointing earnings report.
Tesla is losing market share in China. While the company is in no danger of losing its significant market share lead in the United States, demand for EVs is below forecasts for many reasons.
However, true believers continue to believe that Tesla is more than a car manufacturer. Tesla’s CEO Elon Musk thinks that as well and is staking the company’s premium valuation on its ability to become a leader in full self-driving (FSD) technology. Renowned tech sector analyst Dan Ives of Wedbush agrees that FSD is a key for Tesla.
That reality is likely to take years to develop. But if you have the time and the belief, TSLA stock may be a value, particularly if the price dips to around $165, which has been a solid support level in the last year.
About Tesla
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.
Read More - Current Price
- $352.56
- Consensus Rating
- Hold
- Ratings Breakdown
- 14 Buy Ratings, 16 Hold Ratings, 9 Sell Ratings.
- Consensus Price Target
- $230.18 (34.7% Downside)
