UBS: Tesla Shares Could Drop by 35%

UBS analysts have indicated that Tesla shares may be poised for a double-digit correction, as the company's financial fundamentals do not support the increase in stock prices since the US elections. UBS has maintained its "sell" rating on Tesla shares and set a target price of $226 per share. While this is slightly above the bank's previous target of $197, it still represents a 35% decline for Tesla's shares, which were trading around $353 yesterday at one point. Tesla shares finished the day in after-hours trading at $334.50, down 5.12%.