Tesla stock likely to witness 'significant pressure' going forward - Deutsche Bank
The investment bank’s research note sheds light on the potential challenges that Tesla may encounter, providing investors with insights into the future trajectory of the company's stock performance.Analysts are downbeat on the company’s first-quarter deliveries and the outlook in the near-term. Wedbush recently cut its Tesla price target to $300 from $315, telling investors that deliveries have been a nightmare this quarter.
Meanwhile, Citi also recently cut its Tesla price target to $196 from $224, stating that it expects a first-quarter deliveries miss. Mizuho downgraded Tesla to Neutral in a recent note, telling investors that in the near term, Tesla’s deliveries remain challenging. “Although Tesla has announced it will raise prices in the U.S. and China effective April, we view it as an attempt to boost sales in March rather than a sign of solid demand,” added Deutsche Bank.
Similarly, Citi analysts cut the price target on Tesla shares and added that “the setup remains challenging with street estimates still looking too high, not only for 2024 but also 2025.”
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla: It's Okay to Double-Park At Supercharger Stalls In A Non-TeslaFord owners will soon have access to Tesla's Superchargers, but due to the location of Ford's charge ports, Tesla recommends that owners double park to charge.
Read more »
Tesla: It's Okay to Double-Park At Supercharger Stalls In A Non-TeslaFord owners will soon have access to Tesla's Superchargers, but due to the location of Ford's charge ports, Tesla recommends that owners double park to charge.
Read more »
Why Ford’s Tesla Charging Adapter is Good for Tesla, Ford and the EV IndustryClean Tech News & Views: EVs, Solar Energy, Batteries
Read more »
Frost Bank to donate $1M to Alamo, becoming ‘official bank’ of historic siteFrost Bank's $1 million donation is the latest large gift to the Alamo, which is undergoing a roughly $500 million expansion.
Read more »
EV Sales Boom, Tesla Stock Questions, Cybertruck & ID.4 Towing — 17 Cleantech Stories Not To Miss!Clean Tech News & Views: EVs, Solar Energy, Batteries
Read more »
Where Is Tesla Stock Actually Headed?Clean Tech News & Views: EVs, Solar Energy, Batteries
Read more »