JPMorgan raises Tesla price target, but still sees Tesla as overvalued

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Brian Adam
Professional Blogger, V logger, traveler and explorer of new horizons.
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Tesla headquarters in Beijing.

The US bank JPMorgan has raised its target price for Tesla shares on Wednesday, although it continues to consider that the amount at which the electric vehicle manufacturer’s securities are traded is well above their real value.

Specifically, the entity’s analysts have raised it by 10 dollars, to 90. The company that Elon Musk directs registers this Wednesday a price of around 625 dollars. In this way, JPMorgan believes that the price of the North American firm’s securities could fall by more than 85%.

In March, Tesla shares began a ‘rally’ that has led the company to multiply in value. In mid-March, the auto giant’s shares fell to $ 72 (according to the adjusted price after the August split). At the time, JPMorgan assigned a price target of $ 48.

Since then, Tesla stocks have risen sharply. Although JPMorgan has been raising its target price, it has always kept it well below the listing price.

According to the history of analyst recommendations collected by Bloomberg, there is no clear consensus on which investment strategy to follow with Tesla shares. A third of analysts expect stocks to continue rising, another third believe they will remain stable and another third estimate that they will decline sharply.

Along with JPMorgan, only GLJ Research and Williams Research consider Tesla’s price target to be below $ 100 per share. The most optimistic firms are Goldman Sachs and Northeast Securities, which consider that the price can rise to 750 and 700 dollars, respectively.

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