"Brinkman asserts that at its current price of $361, the EV-maker is hugely overvalued. Based on where its fading financials will land by the end of this year, he says it's worth just $145, and hence eventually headed for a drop of 60%."
"Brinkman cites Tesla's disappointing deliveries-just 358,000 vehicles for Q1-then uses that number to spotlight the giant and growing historical disparity between the market's vast hyper-bullish expectations and Tesla's actual underwhelming performance."
"Since that June 2022 prediction, Wall Street's forecasts for revenues and profits have kept dropping, yet Tesla's share price waxed by 50%. Today according to Bloomberg, the Wall Street analyst consensus reckons Tesla's still cheap and that its shares will rise 15% from here to $416 over the next twelve months."
J.P. Morgan analyst Ryan Brinkman claims Tesla is significantly overvalued at $361, estimating its true worth at $145. He highlights a disparity between market expectations and Tesla's actual performance, noting disappointing Q1 deliveries of 358,000 vehicles. Brinkman points out that forecasts for Tesla's sales have consistently fallen short, with a 71% miss from previous predictions. Despite this, Tesla's share price has increased by 50%. The consensus among analysts remains bullish, predicting a 15% rise in shares over the next year.
Read at Fortune
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