Elon Musk Hits Back At Analyst Who Recommended Tesla Shelve Cybertruck Just Days Ahead Of Launch With A 'Clown' Emoji
Portfolio Pulse from Shanthi Rexaline
Tesla CEO Elon Musk responded with a clown emoji to Jefferies analyst Philippe Houchois' recommendation to shelve the Cybertruck, calling it an 'off-mission product'. Houchois sees 2024 as a 'lost year' for Tesla's growth and suggests canceling the Cybertruck could help Tesla refocus. Despite this, Houchois maintains a Neutral rating on Tesla stock but lowered the price target from $250 to $210. Tesla is set to launch the Cybertruck on November 30, with reports indicating only a few units may be delivered at the event. Tesla's stock closed up 0.55% at $235.60.
November 21, 2023 | 5:27 am
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NEUTRAL IMPACT
Analyst Philippe Houchois recommends Tesla cancel the Cybertruck and lowers the price target from $250 to $210, but maintains a Neutral rating. Elon Musk's response and the upcoming Cybertruck launch may influence investor sentiment.
The analyst's recommendation to shelve the Cybertruck and the price target cut could be seen as negative, but the Neutral rating and Musk's confident response, along with the anticipation of the Cybertruck launch, could balance out the short-term impact on Tesla's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90