Autos

‘Hard to get on board’ with Tesla despite analyst optimism: Trader

0


It’s not time to buy shares of Tesla, despite recent analyst optimism, one trader says.

The electric-auto maker’s stock climbed nearly 2% on Wednesday after Deutsche Bank reiterated its buy rating, saying no U.S. competitor “comes close” to Tesla’s market leadership, and New Street Research issued a Street-high price target nearly 48% above Tuesday’s closing levels.

Though the stock is down about 6% since Nov. 1, this is far from an ideal entry point, Tocqueville Asset Management portfolio manager John Petrides told CNBC’s “Trading Nation” on Wednesday.

“Take a step back and ask yourself, if you didn’t own the stock today, would you buy it? And it’s hard to get on board from a fundamental…



Source cnbc.com

0 0 votes
Article Rating

Inflation surged 6.8% in November, more than expected, to fastest since 1982

Previous article

Investors brace for the highest inflation reading in nearly 40 years

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Autos