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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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To: Smiling Bob who wrote (117491)9/23/2021 11:50:59 AM
From: Smiling Bob  Read Replies (1) of 118049
What is this word, "overvalued?"

Tesla Is 'Fundamentally Overvalued.' Stock Picks Up New Bear on Wall Street. --
10:31 am ET September 23, 2021 (Dow Jones) Print
Al Root 
Bulls and bears endlessly debate what electric vehicle giant Tesla is worth. On Thursday, a new bear entered the fray. Despite all the positives, one analyst still can't recommend buying shares.

Tudor Pickering analyst Matthew Portillo launched coverage of Tesla (ticker: TSLA) stock with a Sell rating and $537 price target. He covers a mix of energy and automotive names.

Portillo does seem impressed with Tesla's operations, giving them credit for growing sales, the autonomous driving features and the company's small stationary power storage business. "Don't get us wrong, we think Tesla has done an amazing job of building a world class business in a number of segments," writes the analyst. Still, he calls the stock "fundamentally overvalued," believing that Tesla would need to ship about 8 million cars that have the ability to drive themselves in cities by 2030 to justify the current stock price. That's "a tough ask," according to the analyst.
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