HSBC Initiates Coverage On Tesla with Reduce Rating, Announces Price Target of $146
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Michael Tyndall has initiated coverage on Tesla with a Reduce rating and a price target of $146.
November 09, 2023 | 10:31 am
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HSBC has initiated coverage on Tesla with a Reduce rating and a price target of $146, which could potentially impact Tesla's stock negatively.
HSBC's Reduce rating indicates that they expect Tesla's stock to underperform in the short term. The price target of $146 is significantly lower than Tesla's current stock price, suggesting that HSBC believes the stock is overvalued. This could lead to a decrease in Tesla's stock price as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100