A major U.S. bank and a legacy tech name were the focus of some of Tuesday's biggest analyst calls.
A major U.S. bank and a legacy tech name were the focus of some of Tuesday's biggest analyst calls. Compass Point downgraded Wells Fargo to neutral after a strong start to 2024. On a more positive note, Morgan Stanley resumed coverage of Cisco Systems with an overweight rating, calling for solid gains ahead. Check out the latest calls and chatter below. All times ET. 6:35 a.m.
"Key downside risks to our view relate to potentially larger vehicle price reductions than we expect, increased competition in EVs, delays with products/capabilities like FSD /the third generation platform/4680, key person risk, the internal control environment, margins, and operational risks associated with Tesla's high degree of vertical integration," he added. Tesla shares have struggled in 2024, dropping 30.4%.
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