TSLA - 1 Wall Street Analyst Thinks Tesla Stock Is Going to $120. Is It a Sell?
2024-04-16 08:07:22 ET
There's hardly a better way for an analyst to signal his or her bearishness on a stock than to cut their price target more than once. This happened recently with the beleaguered electric vehicle (EV) pace-setter Tesla (NASDAQ: TSLA) .
In mid-April, a prognosticator from a major U.S. bank got out his scissors for the second time in less than one month. Uncomfortably, this occurred barely over one week out from the company's scheduled first-quarter earnings release.
That analyst was Colin Langan from the investment wing of one of the "top four" lenders, Wells Fargo . Langan recently made another downward adjustment to his Tesla price target; it's now $120 per share, down from the preceding $125 per share . That, in turn, was lowered drastically by Langan from $200 in mid-March when he downgraded his recommendation to underweight (read: sell) from equal weight (hold).
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1 Wall Street Analyst Thinks Tesla Stock Is Going to $120. Is It a Sell?