Analyst: Tesla, Inc. Stock Could Fall 36%

Shares of Tesla (NASDAQ: TSLA) took a hit on Tuesday, falling about 3% after an analyst at Jefferies initiated coverage of the electric-car maker with an underperform rating, or a rating indicating that stock is expected to underperform major stock market indices like the S&P 500. But the analyst is making headlines again on Wednesday, saying an error in his calculations means his expectations for the stock are even worse.

Jeffries analyst Philippe Houchois' bearish outlook for Tesla (via CNBC) follows a huge run-up in Tesla's stock price recently. Over the past 12 months, the stock climbed an impressive 83%. Is it time for a pullback?

Tesla Model S sedan. Image source: Tesla.

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Source: Fool.com