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Originally Posted by KRS_SN
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Yeah
JP Morgan, making the wrong call on TSLA for at least 3 years - JP Morgan is like the Swiss watch of wrong:
June 2020 - pre-splitJPMorgan keeps an Underweight rating on Tesla (TSLA +0.1%), while nudging the price target up to $275 from $240."We see Tesla as by far the most overvalued stock in our coverage group (apart from Hertz, which we also rate Underweight and for which we previously withdrew our price target prior to its bankruptcy)," updates analyst Ryan Brinkman.[Note in June TSLA was trading >$1000/share]
October 2020 - post-splitAnalyst Ryan Brinkman at J.P. Morgan, who has had an underweight rating on Tesla's stock for at least the past three years, raised his price target to $75, which is 82% below Friday's closing price of $415.09, from $65.
"We remain underweight-rated on [Tesla] shares, on what we see as lofty valuation coupled with high investor expectations and high execution risk," Brinkman wrote in a note to clients. Of the 37 analysts surveyed by FactSet, Brinkman is one of 11 who are bearish on Tesla's stock.
Just to review, in June JP Morgan had it at $275 and it was $1000 and then split. In Oct
JP Morgan raised their price target to $75, and note today it's $627.
Who wants to bet on JP Morgan's TSLA advice? anyone? anyone? ECHO ... echo ... echo ... ...
In other news, Elon continues to poop in haters cheerios by moving to Texas to build pickup trucks and hate on government regulations: