TSLA & Analysts
On June 18th 2020, Jeffries upgraded TSLA from 650 to 1200: https://www.cnbc.com/2020/06/18/jefferies-raised-its-price-target-on-tesla-to-1200-from-650.html On Aug 26, 2020 Jeffries upgraded TSLA from 1200 to 2500: https://www.marketwatch.com/story/tesla-stock-gains-after-jefferies-boosts-target-to-new-street-high-of-2500-2020-08-26 In between these two dates, TSLA had a decent earnings call and stock split announcement. Are Analysts catching up to the valuations driven by Robinhood investors by citing absurd reasons?
Jefferies says momentum is building in Tesla, nearly doubles forecast to a Wall Street high $1,200
CNBC
Tesla stock gains after Jefferies boosts target to new Street high of $2,500
MarketWatch
Citadel cita Aug 26, 2020
If an analyst can consistently make correct predictions more than half of the time, then they would make better money as a trader in buyside instead. Therefore by definition an analyst is generally more wrong than right.
Never listen to analysts. They're all full of shit.
Funny if you only look at first 4 letters