Shares in Tesla rallied near 10 per cent after Credit Suisse analyst Dan Levy said he was ‘hard-pressed’ to find a stock that checked so many boxes, reports triathletetim.
Tesla’s shares have had a rough start to 2022, with losses extending to 30 per cent at one point last week. Credit Suisse analyst Dan Levy said investors were making a mistake.
“Accordingly, with robust fundamentals ahead and with the stock having been caught in the market decline, we believe the stock should recover. We upgrade to outperform and maintain our $US1025 target price.”Shares of Tesla were up 9.6 per cent to $US930.01 as of 2.09pm in New York. They closed at $US829.10 on Thursday. It fell as low as $US817 in premarket trading on Friday.by Loup Ventures’ managing partner Doug Clinton in which he argued that Tesla is “overvalued”.
“No one changes the minds of the religiously indoctrinated. Even the most well-reasoned and logical argument won’t convince those who don’t want to be convinced.“With that in mind, I’m going to explain my view that Tesla is overpriced built on basic principles of investing rather than get into deep product debates. Tesla makes fine products. That’s not the problem. The problem is what the price of the stock demands in terms of future performance.
“If Tesla lovers really believe it’s such an incredible company, they should wish the stock would go down so they could buy more at more attractive probabilities. That’s not really what it’s about though. Tesla seems like the last meme stock standing — a token of tribal acceptance that’s just supposed to go up forever. It would be healthy to see that mentality washed out of the stock to get a more realistic price. I might even buy some then.
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