Tesla faces 17% downside as analyst HSBC slashes price target to $138

From Nasdaq: 2024-04-03 10:20:11

After a disappointing first-quarter report, Tesla faces analyst backlash. HSBC slashes price target to $138, predicting a 17% downside from current levels. With weak deliveries for the Model 3 and Model Y, Tesla’s growth story is unraveling as price cuts fail to boost volumes.
As other automakers scale back EV plans due to demand challenges, should investors consider selling Tesla stock? Valued at over $530 billion, Tesla’s uncertain growth outlook raises concerns about its mesmerizing valuation. Adapting next steps will be crucial for Tesla to regain momentum and investor confidence.



Read more at Nasdaq: Tesla Stock Has 17% Downside, According to 1 Wall Street Analyst