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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
Bloomberg business news
WATCH: Tesla fell to the lowest level since Nov. 2020 amid a recall and signs of China’s return to Covid Zero curbs. Craig Trudell reports.Source: Bloomberg
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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.