Thursday, HSBC launched coverage of Tesla stock with a Sell rating and $146 price target.
Thursday, according to ratings-aggregation services, HSBC launched coverage of Tesla stock with the equivalent of a Sell rating and $146 price target, down about 34% from recent levels.
The issue appears to be valuation. The analyst believes the electric-vehicle business isn’t worth what Tesla stock trades at today. What’s more, Tesla’s other businesses, including energy storage, self-driving cars, robots, and artificial-intelligence computing, all have regulatory hurdles that mean slower-than-expected growth in the future.
Newsletter Sign-up The report is having some impact on Tesla stock. Shares were down 0.9% in premarket trading at $220.06 a piece while S&P 500 futures were up about 0.2%, and Nasdaq Composite futures were little changed. Overall, about 43% of analysts covering Tesla rate shares at Buy, according to FactSet. The average Buy-rating ratio for stocks in the S&P 500 is about 55%.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HSBC starts Tesla stock coverage at Sell, sees 35% downside risk; Shares dipHSBC starts Tesla stock coverage at Sell, sees 35% downside risk; Shares dip
Read more »
Sell Tesla Stock, Says Analyst. There Is 34% Downside.Thursday, HSBC launched coverage of Tesla stock with a Sell rating and $146 price target.
Read more »
AMC Entertainment Stock Plunges on Plans to Sell $350 Million of StockThe movie-theater chain files to offer up to $350 million of stock.
Read more »
Thursday's analyst calls: One bank says sell Tesla, tactical retail tradesThursday started with a rare sell-equivalent rating placed on Tesla.
Read more »
Stock Analysis and Opinion - Investing.comIn-depth stock analysis, investing strategies, stock picks, and commentary on stocks, indices, and ETFs.
Read more »
Stock Market News Today: S&P 500 on Winning Streak; Disney Stock in FocusLive coverage of stocks, financial and economic news, including the S&P 500, Dow and Nasdaq Composite.
Read more »