TheCredit Strategist is taking a swipe at Piper Jaffrey auto analyst Alexander Potter, for increasing his stock price target on
Tesla Inc. (
NASDAQ: TSLA,
Forum) to US$368 from US$223.
In its latest issue
The Credit Strategist takes the view that Potter’s price target is “supported by nothing more than hope and prayer, which renders his work a joke.”
However, the newsletter goes on to say this does not mean that Tesla won’t hit Potter’s price target.
“TSLA is the poster child for the stock market bubble we are experiencing today and could easily hit $368 or $400," the newsletter said. "But all bubbles pop and unless TSLA can come close to keeping a fraction of its promises, the stock will eventually fall back to earth.’’