Despite rally in Tesla stock, US election could risk ~40% of profits: JPMorgan
Investing.com -- Prior to the recent decline, Tesla’s stock had seen a sharp rally, but analysts at JPMorgan warned in a note Friday that the 2024 U.S. presidential election could threaten as much as 40% of Tesla’s profits due to potential policy shifts under the incoming administration.
The current expectation for 2024 EPS has declined -67% from $7.30 in 2022 to just $2.43, JPMorgan noted, highlighting risks to future earnings. The bank says that combined, these could pose a $3.2 billion headwind, equivalent to ~40% of Tesla’s projected $8.3 billion in 2024 EBIT.
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