GLJ Research reiterates a Sell rating on Tesla with a $24.33 price target following the company’s Q2 report. The results show Tesla is just a “car company,” the analyst tells investors in a research note. The firm points out that Tesla trades at 70-times earnings while other car companies trade at 6-8 times earnings. With supply chains now fixed, the “auto goldilocks period is OVER, and car prices are tumbling,” led by Tesla, contend GLJ.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on TSLA: