Why Tesla Stock Stepped on the Brakes Wednesday Morning
Shares of (NASDAQ: TSLA) skidded off the road Wednesday morning, falling as much as 6.1%. As of 2:07 p.m. ET, the stock was still down 4.6%.
The catalyst that sent the electric vehicle (EV) maker lower was a slightly bearish call by a Wall Street analyst, but the devil's in the details.
Barclays (NYSE: BCS) analyst and Wall Street veteran Dan Levy downgraded Tesla stock to equal weight (hold) from overweight (buy) while simultaneously raising his price target to $260 from its previous level at $220, according to The Fly. It's worth noting that the increased price target was the analyst playing catch-up, as the stock closed at $274.45 on Tuesday.
Source Fool.com
Tesla Inc Stock
€168.20
0.050%
Our community is currently high on Tesla Inc with 56 Buy predictions and 27 Sell predictions.
With a target price of 242 € there is a positive potential of 43.88% for Tesla Inc compared to the current price of 168.2 €.
