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Tesla Analyst Outlines 4-Point Plan To Reverse Stock Slide, Says EV Giant Yet To Reach 'App Store Moment'

Tesla, Inc. (NASDAQ:TSLA) stock has been going through a lean phase with the green days now becoming few and between between. A Tesla bull said the task is cut out if it were to arrest the slide in its stock.

The Tesla Analyst: Morgan Stanley analyst Adam Jonas has an Overweight rating and a $380 price target for the stock, which suggests a roughly 74% upside from current levels. Tesla closed Monday’s session down 0.31% at $219.27, according to Benzinga Pro data.

The Tesla Thesis: Tesla stock is trading at roughly 55 times the estimated 2024 earnings and the recent decline in the stock price has hurt investor sentiment, said Jonas in a note published late Monday. The analyst also noted that a number of suppliers having exposure to Tesla significantly reduced fourth-quarter and early-2024 production outlook.

See Also: Everything You Need To Know About Tesla Stock

4-Point Plan: To halt the slide in Tesla stock and reestablish leadership, Jonas recommends that the company should ...

Full story available on Benzinga.com


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