Tesla, the electric vehicle manufacturer, has received a Reduce rating from HSBC analysts led by Michael Tyndall. The analysts believe that the market is overly optimistic about the company, with Tyndall stating that there is a “fair degree of hope” in Tesla’s current share price. HSBC has given Tesla a $146 per share price target, suggesting a potential downside risk of nearly 35% from the previous close. While the financial firm has a bleak outlook on Tesla, they also have some hope for the company, assuming success in its various projects by 2023, including Full Self-Driving, Dojo, and Optimus. However, HSBC analysts expressed concerns about Tesla’s timeline for these projects and identified Tesla CEO Elon Musk as both an asset and a risk to the company.
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