Tesla Analyst Sees No Victory For Bears From Cybertruck But Points To This As Real Worry Going Ahead
Portfolio Pulse from Shanthi Rexaline
Needham analyst Chris Pierce reiterated a Neutral rating on Tesla, Inc. (NASDAQ:TSLA) despite strong Q2 delivery numbers. Pierce noted that Tesla's inventories grew at a slower rate, which could encourage bulls, but the uncertainty wasn't fully resolved as inventories still grew on an absolute basis. He also mentioned that the initial production and launch of the Cybertruck will likely be a win for the bulls. However, he views Tesla's move to open up its Supercharger network to other OEMs as a negative.
July 05, 2023 | 2:12 pm
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Needham analyst Chris Pierce maintains a Neutral rating on Tesla, indicating uncertainty about the company's future performance. He views the opening up of Tesla's Supercharger network to other OEMs as a potential negative.
The analyst's neutral rating indicates uncertainty about Tesla's future performance. His concern about the opening up of the Supercharger network to other OEMs suggests he believes this could negatively impact Tesla's competitive advantage and potentially its sales volumes.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100