GLJ Research analyst Gordon Johnson has issued a strong recommendation for investors to "aggressively short" Tesla (TSLA, Financial) shares leading into the second quarter of the year. According to Johnson, there is a substantial gap between the consensus expectations for Tesla's Q2 deliveries and GLJ's projections, which he describes as the largest ever seen.
The firm estimates Tesla's deliveries to be approximately 342,700 units for Q2, suggesting that current consensus figures may need to be revised downward by 95,950 units within the quarter. Johnson attributes part of the discrepancy to the declining popularity of Tesla's CEO, Elon Musk, noting that its full impact will manifest in Q2.
Maintaining its bearish stance, GLJ Research has retained a Sell rating on Tesla, setting a price target of $24.86.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 44 analysts, the average target price for Tesla Inc (TSLA, Financial) is $306.77 with a high estimate of $465.70 and a low estimate of $24.86. The average target implies an upside of 27.00% from the current price of $241.55. More detailed estimate data can be found on the Tesla Inc (TSLA) Forecast page.
Based on the consensus recommendation from 54 brokerage firms, Tesla Inc's (TSLA, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Tesla Inc (TSLA, Financial) in one year is $291.29, suggesting a upside of 20.59% from the current price of $241.55. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Tesla Inc (TSLA) Summary page.
