Part 8/12:
Analysts like Gary Black have recently sold off all his Tesla holdings, citing concerns over valuation and reduced near-term margins. Black warns that Tesla’s valuation, at a P/E ratio of around 188x for 2025 earnings, may be disconnected from actual sales and profit fundamentals, especially considering the company’s plans for cost reductions and potential delays in new vehicle launches. Despite this, Black maintains a long-term valuation target of $600 per share for 2030, banking on Tesla’s growth trajectory.