Analysts are once again expressing divergent views on the future of Tesla's (TSLA, Financial) share price. HSBC has cut its price target for the electric vehicle maker to $130, citing significant challenges and no quick solutions in sight. This new target suggests a potential downside of over 50% for the stock. Analyst Michael Tyndall pointed to outdated products in China and brand reputation issues in Europe as key factors, warning that Tesla's strategy might face more significant impacts from fierce competition and brand erosion.
Meanwhile, Wedbush Securities remains optimistic, maintaining its Outperform rating and a $550 price target, highlighting Tesla's promising future in areas like autonomous driving and robotics despite immediate hurdles.
