Tesla's Stock Is 28% Overvalued (And It's Not Alone), Analysts Say
Tesla's blowout quarterly profit justifies some of its 260% stock run-up this year. And it also ups the odds the stock will join the S&P 500. But analysts still think Tesla shares, plus many others, are grossly overvalued.
Tesla (TSLA) is just one of eight major large-cap stocks, including health care's West Pharmaceuticals (WST) and Abiomed (ABMD) plus industrial Old Dominion Freight Line (ODFL), trading 18% or more past analysts' 12-month price targets. This is based on an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSmith.
Tesla's blowout quarterly profit justifies some of its 260% stock run-up this year. And it also ups the odds the stock will join the S&P 500. But analysts still think Tesla shares, plus many others, are grossly overvalued.
Tesla (TSLA) is just one of eight major large-cap stocks, including health care's West Pharmaceuticals (WST) and Abiomed (ABMD) plus industrial Old Dominion Freight Line (ODFL), trading 18% or more past analysts' 12-month price targets. This is based on an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSmith.