Redburn Atlantic: Time to Sell Tesla Stock (NASDAQ:TSLA)
Things have not been great for electric vehicle stock Tesla (TSLA) of late, nor for its various derivatives. And new word from analysts at Redburn Atlantic say it is time to pull out altogether. Investors, meanwhile, took Redburn's advice seriously, if only slightly, and shares of Tesla slipped fractionally in Tuesday afternoon's trading.
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Word from Redburn Capital analyst Adrian Yanoshik calls for a mass exodus, as Tesla's recent history of declining sales volume and accompanying hurting cash flow is likely to carry on for the rest of the year. A combination of Mexico-US tariffs, China-Europe tariffs, and overall struggles with electric vehicle pricing are likely to produce troubles for Tesla through much of 2025.
In fact, Redburn's projections on Tesla are downright pessimistic. Its estimates for free cash flow, and for earnings, are each 10% below Wall Street consensus, reports noted. And if the United States Inflation Reduction Act clean vehicle credits get pulled back as well, then that will take Tesla's sales down still another notch. Thus, Redburn's projected price target on Tesla stock stands at $160 per share. That represents a 44% drop against Monday's closing figures.
Good Luck Buying One in New York
And in New York, it may get tougher to even try to sell a Tesla to begin with. While state lawmakers have been previously seen working to bring more Tesla dealerships to New York under the guise of supporting green energy initiatives, that, somehow, changed. Now, New York is working to remove the five directly-operated Tesla dealerships in the state, because, apparently, Tesla cars are no longer green. Particularly when large amounts of them are being set on fire by 'protestors.'
In fact, some Democrats in New York want to go farther still; instead of cutting off Tesla's ability to sell, they also want a 'comprehensive audit' of a deal that lets Tesla run a plant near Buffalo on a $1-per-year lease. Further, Dems also want clawbacks on previously-awarded subsidies, because again, somehow, Tesla electric vehicles just are not 'green' enough any more. Though, certainly, some have asserted that this is a matter of politics on Tesla's CEO's part rather than any issue with the vehicles themselves.
Is Tesla a Buy, Hold or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 17 Buys, 10 Holds, and 12 Sells assigned in the past three months, as indicated by the graphic below. After a 55.58% rally in its share price over the past year, the average TSLA price target of $284.74 per share implies 0.5% upside potential.
See more TSLA analyst ratings
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