Tesla stock is inflated and could lose more than half of its value, according to Citi analyst Itay Michaeli.
In a note to clients, Michaeli reiterated a sell rating on Tesla’s stock on with a $424 price target. Tesla stock traded around at $923 per share on Wednesday.
The basis for Michaeli’s bold call involves skepticism related to Tesla’s autonomous driving technology and the view that Tesla’s stock — which is trading on a lofty forward P/E ratio of 76 times — is not factoring in a…
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