Analyst Gordon Johnson from GLJ Research maintained a Sell rating on Tesla and keeping the price target at $19.05.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Gordon Johnson has given his Sell rating due to a combination of factors that suggest Tesla’s performance may not meet market expectations. He highlights discrepancies between the optimistic Bloomberg Consensus estimate for Tesla’s Q4 deliveries and his own analysis, which suggests a significantly lower delivery number. Johnson points to various data sources, including sales reports from Europe, China, and the U.S., which indicate weaker-than-expected demand.
Additionally, Johnson raises concerns about potential financial impacts, such as the implications of a possible Delaware Supreme Court ruling related to Elon Musk’s compensation, which could negatively affect Tesla’s GAAP earnings. He also notes the decline in Bitcoin as a factor that could further complicate Tesla’s financial outlook. Overall, Johnson’s analysis suggests that the anticipated Q4 performance may not align with the optimistic narrative, leading to his Sell recommendation.
In another report released on November 10, Wells Fargo also maintained a Sell rating on the stock with a $120.00 price target.