Is Tesla's Growth Slowing Down? Price Chops, Production Hiccups, And Now BYD Zooms Past On Buffett's Billions
Portfolio Pulse from Benzinga Neuro
Wells Fargo analyst Colin Langan predicts Tesla Inc. (NASDAQ:TSLA) will face a challenging year with only a 13% growth in deliveries, below its 50% target. Tesla's price reductions in China, a production halt in Germany, and macroeconomic issues could impact its performance. Langan expects a lower 15.4% gross margin for the latest quarter and has reduced Tesla's stock price target to $223. Meanwhile, BYD Co Ltd (OTC:BYDDF), supported by Warren Buffett, has overtaken Tesla in global EV sales.
January 18, 2024 | 9:48 am
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NEGATIVE IMPACT
Tesla Inc. is expected to face a challenging year with slower growth and margin pressures, leading to a reduced price target by Wells Fargo.
The reduced growth forecast and price target by a major analyst, along with production and macroeconomic challenges, are likely to negatively impact investor sentiment and Tesla's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
BYD Co Ltd has surpassed Tesla in global EV sales and is planning significant investments in vehicle intelligence and EV evolution.
BYD's overtaking Tesla in global EV sales and its aggressive investment plans, backed by Warren Buffett, could positively influence its stock as it gains market share and investor confidence.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80