Tesla Stock Is Way Out There. It Might Be Time to Tread Lightly. - Barron's

gains have pushed shares about as far away from Wall Street’s average price target as they ever get.

JMP Securities analyst Joe Osha was the latest catalyst, raising his price target to $1,500 a share from $1,000, after Tesla reported delivery numbers for the second quarter last week that were far better than expected?

The question for investors now is how high can Tesla stock go.

One way to pick entry points for Tesla stock is with analyst price targets—adjusted for the reality of Tesla trading, of course.

Barron’s wrote on March 20 that it was one of the best times to buy Tesla shares ever because Tesla was trading below its average analyst price target.

The average Tesla price target then was about $500 and shares traded for roughly $425.

Today, the average target price is about $730, according to Bloomberg, about 47% below where the stock has been trading.

Tesla shares typically trade above average analyst price targets, but rarely this far above.

Tesla stock could give back some of its gains, making this a decent trading call.

Finally, Tesla stock can keep trading where it is.

Both of those stocks are also trading well above average price targets.

Tesla’s gains have pushed shares about as far away from Wall Street’s average price target as they ever get