Tesla’s Sinking Shares Leave Wall Street Analyst Targets in Dust
- Stock has lost 52% this year, wiping out over $500 billion
- Tesla needs 80% rally to hit median PT, among widest on index
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The rapid selloff in Tesla Inc. shares has left most price targets from ever-bullish Wall Street analysts seemingly obsolete.
The yawning gap means Tesla shares need to rally a whopping 80% to hit the median analyst target price -- the second widest on the Nasdaq 100 Index, just behind Baidu Inc. The Elon Musk-led firm’s stock has slumped 52% this year to $167.87, while analysts have a median 12-month target price of $302. The stock was trading up 0.5% on Tuesday, set to snap a four-day streak of declines if gains hold.