Is Tesla Stock a Sell? JPMorgan Analyst Forecasts $115 Price Target

Friday, 19 April 2024, 10:40
JPMorgan analyst Ryan Brinkman predicts Tesla stock will drop to $115 per share, citing weak demand for electric cars and recent layoffs. The hypergrowth narrative may be debunked, casting doubt on future sales projections. With a 23% downside potential, investors are questioning Tesla's valuation and growth prospects.
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Is Tesla Stock a Sell? JPMorgan Analyst Forecasts $115 Price Target

Is Tesla Stock a Sell?

If Tesla's sales are shrinking, its stock price should probably fall as well. A lot of people have a lot of opinions about Tesla (NASDAQ: TSLA) stock -- which might be the understatement of the century.

The Analyst's Prediction

JPMorgan analyst Ryan Brinkman thinks Tesla stock is worth just $115 a share and he rates it a sell. That 12-month price target implies a 23% downside.

Reasons for the Sell Recommendation

Tesla's recent layoffs and weak demand for electric cars have raised concerns about the company's growth prospects. If the hypergrowth narrative is no longer credible, future sales and earnings projections could be at risk.

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