Analyzing Tesla: More Future Growth Catalysts, Hedge Fund Sentiment and Analyst Ratings

Bernstein’ Toni Sacconaghi: UNDERPERFORM, $300 Price Target

On August 17, investment advisory Bernstein maintained an Underperform rating on Tesla, Inc. (NASDAQ: TSLA) stock with a price target of $300. Toni Sacconaghi, the analyst at the advisory who has been a long-term skeptic of the EV maker, told investors in a research note that the firm was not being valued as an automotive firm, but rather as a technology company. The analyst argued that valuation per car for the firm was more than 50-times that of traditional automotive companies. He noted that the stock looked expensive given the margin profile.