Long time Tesla Stock analyst Colin Rusch from Oppenheimer has just reiterated a buy rating on the stock of the electric giant Tesla Inc!.
Tesla stock rose Wednesday morning and recovered some of the massive losses from yesterday which was another record-breaking bearish closing that Tesla investors haven’t seen in months.
In a report released today, Colin Rusch from Oppenheimer maintained a Buy rating on Tesla, with a price target of $451.00.
Tesla is presenting trading about $355 at the moment, up about 7% since the market opened, after a massive selloff of -21% that forced stock of the electric vehicle giant to close at $330 yesterday.
“I think they have more to go on the downside before they bounce in any kind of meaningful way. These are great companies on a long-term basis, but since they got so far ahead of themselves, I think they’ve got further to drop, and they won’t bounce back as quickly as a lot of people think they will,” said Matt Maley, chief strategist at Miller Tabek, while on Yahoo Finance yesterday. Matt Maley is the same Analyst that suggested Tesla will crash and compared Tesla to Amazon of the year 2000 when Amazon stock crashed about 90% after what Matt called a huge bubble.
Tesla Stock Is Undervalued
Ark Invest CEO Catherine Wood still believes “Tesla is way undervalued even with the massive move it’s had”.
Our bear case is $1500, a 5-year target.
Cathie Wood of Ark Invest.
“In our bear case, we have nothing for ride-hailing and we have nothing for autonomous. If they do that, and we think they will” Cathie added.
Below is an interview of Tesla long time bearish analyst Gordon Johnson on why he believes Tesla is overvalued and headed for $19 by the end of the year 2021.