The "Magnificent Seven" is a group of large, highly influential companies that includes Microsoft, Apple, Nvidia, Amazon, Alphabet, Meta Platforms, and (NASDAQ: TSLA). Five of these stocks registered substantial gains so far in 2024 trading. However, Apple is down roughly 10% so far in 2024, while Tesla's share price fell 28%.

What comes next for Tesla's stock?

In an investor note published by Citigroup analyst Itay Michaeli on March 27, the analyst maintained a neutral rating on the stock but lowered his price target from $224 per share to $196. With Tesla trading at roughly $180 per share, that would imply an upside of roughly 9%, but the analyst sees some bearish dynamics for the electric vehicle (EV) pioneer.

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Source Fool.com