2024-03-28 09:40:51 ET
The "Magnificent Seven" is a group of large, highly influential companies that includes Microsoft , Apple , Nvidia , Amazon , Alphabet , Meta Platforms , and Tesla (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.
For further details see:
1 Wall Street Analyst Thinks Telsa Is Going to $194 -- Is 2024's Worst-Performing "Magnificent Seven" Stock a Buy?