'It's hard to get on board' with buying Tesla here despite analyst optimism, trader says (via TradingNation)
The electric-auto maker's stock climbed nearly 2% on Wednesday after Deutsche Bank reiterated its buy rating, saying no U.S. competitor "comes close" to Tesla's market leadership, and New Street Research issued a Street-high price target nearly 48% above Tuesday's closing levels.
Tesla may be dominating the electric-vehicle market, but its stock is trading at extremely elevated multiples: around 22 times price to sales, 180 times enterprise value toand nearly 160 times price to earnings, Petrides warned. Tesla's stock could also be risky on a technical basis, Miller Tabak's Matt Maley said in the same interview.
"Some of these innovative stocks are going to have to pull back a little bit even if Deutsche Bank is right on the fundamental outlook," Maley said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here's why battery manufacturers like Samsung and Panasonic and car makers like Tesla are embracing cobalt-free batteriesCar manufacturers like Tesla are embracing cobalt-free batteries. While the metal increases battery life and energy density, cobalt is expensive, making up 30% of an EV's total cost. Why else are tech companies and start-ups working to eliminate cobalt?
Read more »
Tesla, bitcoin, growth stocks? Here's what market bubbles are still loomingMarket bubbles are investing phenomena that can occur when valuations are driven by exuberant behavior — and they can burn investors.
Read more »
The Holidays Are A Good Excuse To Finally Buy That Dyson (Especially When It’s On Sale)The holidays are a good excuse to finally buy that Dyson (especially when it's on sale! 👀)
Read more »
Sherrie Hewson says Loose Women 'too PC' as bosses 'afraid of being cancelled'Sherrie Hewson believes ITV's Loose Women is 'too PC' these days and she says it's down to producers being afraid of getting 'cancelled'
Read more »
Facing record labor shortages, trucking firms battle fiercely for driversRecruiters dangle fat pay increases and sign-on bonuses, but a big rig driver still gets little respect. It's a 'gold prison,' says one.
Read more »