Bank of America $800->$1750, underperform->neutral. Saw this on a clip from "Morning Joe", but haven't seen any actual announcement.
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Wiki Analyst Price Targets for $TSLA
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I guess I am an oddball when it comes to not listening to analysts in my 40+ years of interesting. After all the word does start with "ANAL". I often think too much emphasis and expectation is put on analyst information. When a company reports higher or lower than what what "predicted", their stock often moves suddenly up or down. The company simply performed to market conditions, so it is the analyst that was wrong, not that the stock was out of line and needed correction. Fire the analystYes, this is somewhat intended to be funny. Don't take that comment defensively.
I think the idea is that the stock price is based on the expectations. When the expectations change, the stock price changes accordingly. Of course, "expectations" refers to the total community of investors and with a relatively young and growing company this has little to do with realistic appraisals of its potential. A while back Slate Money reported on a company (don't remember which, maybe Hertz?) that went bankrupt and people started trading it and bidding it way up out of all reason. The market has a tenuous connection to reality.
I hope this is the right place for this comment:
I stumbled on a commentator calling TSLA "The most dangerous stock of 2020." He considered the stock overpriced (as a lot of people do) and he made the assertion that the stock price is "disconnected from fundamentals." But then in discussing the electric car market he several times referred to EVs as "electronic cars," which makes me wonder if he's an idiot or just illiterate. All cars are electronic nowadays. Teslas are electric. When the host asked him whether he was taking into account how far ahead Tesla is on technology, he just said he didn't think they were. Far and away the highest sales volume, the most advanced supercharger network, the only EV maker that also makes its own batteries, and the best electric cars on the market.
People have been shorting Tesla and rating it a Sell since it was $35 or maybe before. But $1,550 does seem to me awfully high. Which is why over the past few weeks I've sold about 1/5 of my holding, for about 30 times what I paid per share.
The analyst price targets are interesting, but I'm wondering whether those reflect the opinions of actual investors, which is what drives the actual price.
Is TSLA "dangerous" at these levels?
Well, considering that it's already $2,200, $2,500 doesn't seem like much of a stretch. But I'm still wondering if this is tulips all over again.
Andrew Marvell wrote:
And soon after, the bubble broke. Do the fundamentals of Tesla really justify $2,200? My broker doesn't think so. I have no idea what to think.
ENOUGH with the Tulips! you sound like Gordon Johnson. If you are taking advice from your broker, then this forum isn't for you.
Hey, this is the first time I've mentioned tulips. And I think it's a legitimate question. Plenty of people have become millionaires on paper only to lose it all when the bubble bursts. I'm the biggest Tesla fanboy you're going to find, and I only own TSLA because I bought some shares because I loved my car so much. I never expected to ever sell my shares because it was just a few shares of a company I liked. And then suddenly it's worth more than fifty times what I paid and I have to ask what the bleep is going on? It's ten times what it was a year ago but the company is not ten times as big as it was and doesn't have ten times the prospects that it did a year ago. So I have to wonder what's driving the price? Either the market has suddenly opened its eyes to what an amazing company this is, which we've all knows for nearly a decade, or else it's a bubble. And nobody ever recognizes bubbles until after they burst.
And I have no idea who Gordon Johnson is.
I'm going to update the wiki entry to post-split price targets. In case I goof anything, and to preserve them for posterity, here is what they looked like pre-split:
Pre-split Price Targets
Elazar Advisors: $2,608 - up from $1,500
Jefferies: $2500 up from $1,200
Piper Sandler: $2,400 - up from $2,322
Oppenheimer: $2,209 - up from $968
Wedbush: $1900 up from $1,800 - up from $1,250
Argus: $1888 - up from ???
Bank of America (Merrill Lynch): $1750 up to Neutral from $800
Baird: $1,658 - up from $984
Canaccord: $1,623 - up from $650
Exane BNP Paribas: $1550
Deutsche Bank: $1,500 - up from $1,000
New Street Research: $1,500 - up from $1,100
Wolfe Research: $1,500 - up from $615
Goldman Sachs: $1,475 - up from $1,300
Credit Suisse: $1,400 - unchanged
Morgan Stanley: $1350, sell to hold, up from $1,050 - up from $740
CFRA: $1,220 - up from $1,100
Cowen: $1,100 - up from $300
Daiwa securities: $910
Bernstein: $900 - up from $500, hold -> sell
Royal Bank of Canada: $850 - up from $765
UBS: $800 - unchanged
Roth Capital: $750 - unchanged
Evercore ISI: $625
Citi: $450 - no change
J.P. Morgan: $325 - up from $295
Barclays: $300 - no change
GLJ Research: $87
No Price Targets:
JMP: Neutral rating - removed price target, previously $1,500
Needham: Sell rating - no change
Pre-split Price Targets
Elazar Advisors: $2,608 - up from $1,500
Jefferies: $2500 up from $1,200
Piper Sandler: $2,400 - up from $2,322
Oppenheimer: $2,209 - up from $968
Wedbush: $1900 up from $1,800 - up from $1,250
Argus: $1888 - up from ???
Bank of America (Merrill Lynch): $1750 up to Neutral from $800
Baird: $1,658 - up from $984
Canaccord: $1,623 - up from $650
Exane BNP Paribas: $1550
Deutsche Bank: $1,500 - up from $1,000
New Street Research: $1,500 - up from $1,100
Wolfe Research: $1,500 - up from $615
Goldman Sachs: $1,475 - up from $1,300
Credit Suisse: $1,400 - unchanged
Morgan Stanley: $1350, sell to hold, up from $1,050 - up from $740
CFRA: $1,220 - up from $1,100
Cowen: $1,100 - up from $300
Daiwa securities: $910
Bernstein: $900 - up from $500, hold -> sell
Royal Bank of Canada: $850 - up from $765
UBS: $800 - unchanged
Roth Capital: $750 - unchanged
Evercore ISI: $625
Citi: $450 - no change
J.P. Morgan: $325 - up from $295
Barclays: $300 - no change
GLJ Research: $87
No Price Targets:
JMP: Neutral rating - removed price target, previously $1,500
Needham: Sell rating - no change
Bank of America up to $550 "neutral". This is second highest street target, and a significant change from $350 "underperform".
Deutsche Bank, 300 -> $400, maintain hold rating.
Tesla gets a 33% price target boost but stock pulls back, in danger of snapping 5-day win streak
Tesla gets a 33% price target boost but stock pulls back, in danger of snapping 5-day win streak
It's a risk:reward equation. The greater the risk the higher are both the potential gains and the potential losses. My broker's advice to me is based on her knowledge that I have a very low risk tolerance and that at my age I'm investing for present income rather than growth.
My position in TSLA began at such a low amount that it didn't even bear thinking of as an "investment." It was just "I love this car, I'm going to buy a few shares of the stock." (I did the same with Toyota and Panasonic when I bought my Prius in 2004.) Then out of nowhere, my position in TSLA shot up until it was many times greater than I would normally hold in any one position. My broker gave me the same advice she's have given had that happened with any other stock: Take your profit and reduce your position and be happy with what you made.
I went halfway: I sold 1/3 of my position. I still have way more than I would normally hold in one position, but I took some profit. Of course, if I was psychic I could sell every time it's at a peak and buy back every time it's at a low. But sadly, I'm not. And I'm certainly not going to take my investment advice from an open internet discussion board.
I do believe in Tesla. I believe it's going to continue to succeed and grow. I just don't see the basis for the present price. It seems to me the market has priced in anticipation of the coming decade of growth. I might sell some more if it hits $500 again. Or I might not. I am not a day trader. If I were I'd have gone broke years ago because I'd be no good at it. My investments allow me to live very comfortably. I'm not going to risk that in the attempt to become super-rich.
Most likely I'll hold my TSLA until I die and it will have done me no good at all other than making me feel like I own a piece of a company that's trying to make the world a better place. And the profit I took by selling what I did.
I'm not arguing with your risk tolerance. More power to you for derisking in this environment. However, what I am saying is you are placing value on your broker's advice and, according to her, TSLA at this level is too risky for you. I am simply questioning her ability to assess its value and whether she is the best fit for your financial wellness. Most aren't.It's a risk:reward equation. The greater the risk the higher are both the potential gains and the potential losses. My broker's advice to me is based on her knowledge that I have a very low risk tolerance and that at my age I'm investing for present income rather than growth.
My position in TSLA began at such a low amount that it didn't even bear thinking of as an "investment." It was just "I love this car, I'm going to buy a few shares of the stock." (I did the same with Toyota and Panasonic when I bought my Prius in 2004.) Then out of nowhere, my position in TSLA shot up until it was many times greater than I would normally hold in any one position. My broker gave me the same advice she's have given had that happened with any other stock: Take your profit and reduce your position and be happy with what you made.
I went halfway: I sold 1/3 of my position. I still have way more than I would normally hold in one position, but I took some profit. Of course, if I was psychic I could sell every time it's at a peak and buy back every time it's at a low. But sadly, I'm not. And I'm certainly not going to take my investment advice from an open internet discussion board.
I do believe in Tesla. I believe it's going to continue to succeed and grow. I just don't see the basis for the present price. It seems to me the market has priced in anticipation of the coming decade of growth. I might sell some more if it hits $500 again. Or I might not. I am not a day trader. If I were I'd have gone broke years ago because I'd be no good at it. My investments allow me to live very comfortably. I'm not going to risk that in the attempt to become super-rich.
Most likely I'll hold my TSLA until I die and it will have done me no good at all other than making me feel like I own a piece of a company that's trying to make the world a better place. And the profit I took by selling what I did.
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