Wells Fargo: Tesla share price may fall by another 50% investors should be prepared "
According to Business Insider, on Tuesday, a Wells Fargo report showed that the pain of Tesla investors may not be over yet. Colin Langan, an analyst at the bank, believes that there are many reasons why Tesla's share price should continue to move closer to the bank's $130 target price, which means Tesla's share price could fall by 53% from current levels. Analysts at the bank reiterated their "underweight" rating and added Tesla to the list of tactical views for the second quarter, indicating they don't think Tesla will rebound anytime soon. The bank sees five issues facing Tesla, including a possible decline in Tesla's deliveries in Europe, China and the United States, a possible 25% drop in earnings, and unattractive valuations.
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