Tesla Shares at ‘Emerging Peak’

[Adam Varga + 123]

Tesla’s stock has been on a tear this quarter following the first show of profit in a long time, but it’s now getting knocked down a peg by Wall Street calling for a correction.  Tesla was up 21% since the beginning of the quarter as of last week, but it fell over 5% this week, partly because Morgan Stanley and Goldman Sachs are putting pressure on the stock.

Tesla could be at an "emerging peak" , in both sentiment and share price, according to Morgan Stanley, who reiterated its equal-weight rating and $291 price target on the electric-car company. Although admitting the last quarter was very strong, Morgan Stanley still doesn't believe investors will assume the company is fully self-sufficient without a more sustained period of execution. 

Another negative note came from Goldman Sachs, who reiterated its sell rating and $225 price target, writing that “incremental competition is coming for the company’s established products.”

https://www.bloomberg.com/news/articles/2018-12-18/tesla-shares-may-be-at-emerging-peak-morgan-stanley-says

 

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