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CNBC

Canaccord slashes Tesla price target by $100

CNBC · Current
CNBC
CNBC
Current

George Gianarikas, senior sustainability research analyst at Canaccord Genuity, joins 'Money Movers' to discuss Tesla, electric vehicles, and more.

Breakdown
  • Canaccord lowers Tesla price target from $520 to $420 due to sector multiple compression 3s
  • Tesla's valuation multiple reduced from mid-40s to 37x, applied to 2028 earnings 41s
  • Near-term stock moves depend on deliveries; long-term focus is on future growth areas 1m 7s
  • Electric vehicles remain key to Tesla's current profitability, with global EV penetration at 18% 1m 16s
  • Analyst values Tesla using PE ratio, believing it deserves a premium over other tech giants 2m 11s
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