1 Wall Street Analyst Thinks Tesla Stock Is Going to $404. Is It a Buy?
Tesla (NASDAQ: TSLA) shares have been on the rebound after a horrible start to the year. There has been a plethora of crosswinds for the company and its shares. One Wall Street analyst now thinks investors have a great opportunity for solid returns from recent levels.Canaccord analyst George Gianarikas sees nearly 50% upside after shares of the electric vehicle (EV) leader have plunged over 30% so far this year. That's after the stock has bounced by more than 20% in the last week, too.The CEO has become somewhat of a lightning rod for Tesla investors. Elon Musk's relationship with President Trump helped boost investor confidence late last year as optimism grew that Tesla would benefit from the new administration. That sentiment has reversed as the new year began, however. Reports indicate Tesla sales are slumping, and some investors believe it's due to a reaction to Musk's foray into politics.Continue reading
Tesla (NASDAQ: TSLA) shares have been on the rebound after a horrible start to the year. There has been a plethora of crosswinds for the company and its shares. One Wall Street analyst now thinks investors have a great opportunity for solid returns from recent levels.
Canaccord analyst George Gianarikas sees nearly 50% upside after shares of the electric vehicle (EV) leader have plunged over 30% so far this year. That's after the stock has bounced by more than 20% in the last week, too.
The CEO has become somewhat of a lightning rod for Tesla investors. Elon Musk's relationship with President Trump helped boost investor confidence late last year as optimism grew that Tesla would benefit from the new administration. That sentiment has reversed as the new year began, however. Reports indicate Tesla sales are slumping, and some investors believe it's due to a reaction to Musk's foray into politics.
