Tesla Stock Has 85% Downside, According to 1 Wall Street Analyst
2024 has not been kind to (NASDAQ: TSLA) stock. Since the year began, a combination of weak demand for electric cars generally, combined with price cuts by Tesla in particular (designed to fix the weak demand problem), have cost Tesla more than one-third of its market capitalization.
And one analyst thinks things will get worse.
On Tuesday, Tesla bear Gordon Johnson of GLJ Research set a new, lower price target of just $22.86 on Tesla stock -- currently the lowest price target on Wall Street. That target implies an 85% downside over the next 12 months!
Source Fool.com
Tesla Inc Stock
€175.76
0.640%
Currently there is a rather positive sentiment for Tesla Inc with 57 Buy predictions and 31 Sell predictions.
As a result the target price of 249 € shows a positive potential of 41.67% compared to the current price of 175.76 € for Tesla Inc.
