1 Wall Street Analyst Thinks Tesla Stock Is Going to $258. Is It a Buy After a Post-Earnings Pullback?
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Tesla's second-quarter earnings report disappointed investors and analysts, leading to a drop in stock price. Citigroup analyst Itay Michaeli lowered the price target to $258 per share, citing decreased profit margins. However, potential upcoming catalysts, such as a new low-priced model and self-driving robotaxis, could still add value. The report highlighted that Tesla's stock valuation may not be justified by its sales and profits. Investors who don't believe in the company's self-driving vehicle plan should consider other investment options.
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