Liam Denning, Columnist

Wall Street's Weird Disconnect With Tesla

Even as analysts slash profit forecasts, stock price targets are still high.

August 5, 2016 at 2:09 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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Wall Street threw in the towel on Tesla Motors this week. Sort of, anyway.

Analysts' consensus forecast for Tesla's earnings per share in 2016 finally slipped into the red this week. A few cuts in the wake of Wednesday's second-quarter results took the estimate from a profit of about 23 cents to a loss of about 65 cents, according to forecasts compiled by Bloomberg. Go back 18 months, and the consensus was $5.49.