Berenberg analyst Andrian Janoszyk believes that the valuation of Tesla “came down to earth”, so it’s time to buy shares, writes Business Insider. According to the expert, lower prices for the carmaker’s models is an “investment in growth”.

According to him, CEO Ilon Musk’s distraction on Twitter (NYSE:TWTR) and COVID demand risks in China seem to be affecting the stock price.

Tesla’s valuation has improved to the point where its stock is now buyable, and the fact that Tesla CEO Ilon Musk has diverted his attention to Twitter and the risk of lower demand in China due to COVID-19 are already factored into the stock price.

Tesla’s share price is currently on track for its best monthly performance since 2020, as better-than-expected corporate earnings and the prospect that the Federal Reserve will start cutting rates improve overall investor sentiment.

Tesla shares are up more than 58% in January to $172.32 on Tuesday.