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Tesla could see shares reverse in fourth quarter: Barclays

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Tesla shares could start to see a reversal in the fourth quarter after a huge rally this year, as the “flaws in the growth story” begin to show, according to one major bear. 

Barclays auto analyst Brian Johnson, who put a $300 price target on Tesla in February, questioned the outlook for the electric carmaker, despite the company posting second-quarter earnings that beat market expectations

First, he said that while Tesla CEO Elon Musk has promised “industry-leading” margins, according to its earnings results released Wednesday, that is not likely to happen.

“That’s clearly not what he (Musk) is going to do, he is trying to do revenue growth,” Johnson told CNBC’s “Street Signs Asia.”

The…



Source cnbc.com

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