Calling the recent decline by Tesla (TSLA) stock “overdue,” Nixon Peabody analyst Daniel Kern said on Schwab TV today that the shares have an “‘I want to believe’ kind of valuation.” He indicated that he is not yet bullish on the shares.

Tesla stock has hit a rough patch in recent weeks, but top analysts still see big gains ahead for the EV maker's stock this year.

Financial writer analyzes Tesla, Inc.'s performance, citing issues with declining deliveries, inflated valuation, and lack of growth. Click for this TSLA update.

The analyst also noted in a CNBC interview that Tesla owners paying the additional $8,000 upgrade for existing vehicles to adopt FSD would result in a big boost in profit margin. That would help provide a return on the huge amount of capital Tesla spends on artificial intelligence (AI) infrastructure to develop FSD.

Tesla stock slipped on Tuesday after Bank of America said it sees shares fairly priced, with some risk to the downside.

Key Takeaways NHTSA opened an investigation into Tesla's Smart Summon and Actually Smart Summon features, which allow users to move their vehicles remotely using an app.The regulatory agency has received complaints that Tesla vehicles failed to detect obstacles or parked vehicles,