JPMorgan Analyst Says Tesla Stock Could Plunge Another 60%

In a research note, JPMorgan analyst Ryan Brinkmann pointed out that market expectations for Tesla's financial and operational metrics through the end of 2030 have been broadly revised downward. Yet, against this backdrop, Tesla's stock price has still risen by 50%, and analysts' target prices have been increased by 32%. The analyst believes this reflects investors betting that Tesla's performance beyond 2030 will improve significantly and substantially exceed current expectations. Based on this assessment, JPMorgan warned that Tesla's stock could fall by as much as 60% further.