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stock a Reduce rating and price target of $146. Tesla stock is consolidating right on top of $210 support level. analyst says too much of Tesla growth story comes at end of decade. President Joe Biden supports UAW attempt to unionize Tesla factories. Tesla stock is doggy-paddling just under an important support zone on Friday, and should it give way, shareholders could experience a 24% drop to long-term support.
analyst Michael Tyndall surprised shareholders on Thursday with his Reduce rating on top of a $146 price target. Tyndall’s research did not treat Tesla as a poor investment, and in fact he admitted that Tesla largely fulfills its ambitious promises over the long run. The problem, as Tyndall sees it, is that Tesla’s valuation appears to be based on several major investments that won’t acrue tothe bottom line until the end of the decade.
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