Tesla Bull Trims Price Target Ahead Of Q1 Deliveries Update, Warns Of 'Darker Days' Ahead: 'For Musk, This Is A Fork-In-The-Road Time'
Portfolio Pulse from Shanthi Rexaline
Wedbush analyst Daniel Ives maintains an Outperform rating on Tesla (TSLA) but cuts the price target from $315 to $300 ahead of Q1 deliveries update. Citing demand and supply issues, including soft demand in China and production challenges, Ives reduces Q1 delivery estimates from 475,000 to 425,000 units. Despite short-term challenges, Ives remains bullish on Tesla's long-term prospects, emphasizing the importance of Tesla's Full Self-Driving (FSD)/autopilot strategy.
March 28, 2024 | 5:42 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Wedbush analyst Daniel Ives cuts Tesla's price target from $315 to $300 due to Q1 delivery and production challenges but remains optimistic about Tesla's long-term future, particularly its FSD/autopilot strategy.
The reduction in Tesla's price target reflects short-term challenges, including demand and supply issues, particularly in China. However, the analyst's continued bullish stance and emphasis on Tesla's FSD/autopilot strategy suggest a belief in the company's long-term growth potential. This mixed view could lead to short-term price volatility but maintains a positive long-term outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100