Elon Musk, chief government officer of Tesla Inc., arrives at federal courtroom in New York, on Thursday, April 4, 2019.
Natan Dvir | Bloomberg | Getty Photos
Morgan Stanley triggered a stir on Tuesday when star auto analyst Adam Jonas put out a “bear case” state of affairs that envisioned Tesla‘s shares plummeting to simply $10.
And now a Citigroup International Markets analyst is out with one other surprising state of affairs for Elon Musk’s electrical automobile maker.
Citi’s Itay Michaeli sees growing likelihood the shares plummet greater than 80% to $36.
“Preserve promote/excessive threat as the danger/reward nonetheless seems negatively skewed regardless of the latest capital elevate and inventory pullback, primarily on lingering demand/FCF (free money circulation) considerations,” the analyst mentioned in a observe late Tuesday. “Lowering estimates to mirror the latest capital elevate, Q1 outcomes/information and our personal inputs.”
The analyst lower his common worth goal on Tesla to $191 from $238 by adjusting the possibilities of three eventualities, seeing a reducing probability of an enormous…