Tesla Drops with BofA Indicates stock price target

As mentioned before, Tesla drops big time any time there is someone who thinks the stock is overvalued. The latest is Bank of America Merrill Lynch. An "underperform" rating and a $45 price target on Tesla caused it to drop 4.7% to $163. With 3Q earnings being reported next month, I would exercise caution if you are long TSLA or planning to purchase. They have beat expectations lately but who knows if they can keep this up. They are expected to deliver over 5000 cars during the quarter and 21,000 of them for the year.