Wells Fargo Keeps Underweight on Tesla, $120 Price Target
- Rating
- Sell
- Price target
- $120
- Implied downside
- -73%
- vs $438.97 prior close
Wells Fargo analyst Colin Langan reiterated an Underweight rating and $120 price target on Tesla (NASDAQ: TSLA)
“Purely on results, we would expect the stock to trade down given the EPS miss, high opex, & disappointing auto GM ex EV credits, which showed little leverage on improved volume q/q.
That said, this clearly can change based on Elon’s comments on the call. Robotaxi production for volume remains targeted for 2026.
However, delivery guidance remains withdrawn.”
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Tracking this call
Since this note−15% TSLA $438.97 → $375 (Oct 9) · 20% of the way to the target
This callOpen: TSLA has not reached $120 yet. This 12-month target is scored on Oct 23, 2026.
Firm track recordWells Fargo: 46% of its 13 targets at least a year old were reached within 12 months (#19 of 20 firms); on Tesla, 0 of 4. Accuracy ranking →
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