Tesla: stock removed from Wedbush's 'best ideas' list

(CercleFinance.com) - Wedbush Securities announced on Friday that it had removed Tesla from its list of "best investment ideas", citing the price discipline required of such stocks.


Dan Ives, Wedbush's star analyst, had yesterday lowered his price target on the stock from $350 to $315 following the disappointing outlook unveiled by the electric vehicle manufacturer for 2024.

The professional had expressed his dismay in the wake of a conference call during which, in his view, no major strategic issues, such as weak demand or falling prices, were discussed.

Instead, we were treated to a long-winded explanation of Tesla's long-term vision and a conference call that sounded like a lot of nonsense", he asserted, maintaining his "outperform" rating on the stock.

The list of "best ideas" for investment includes some twenty US stocks, including tech giants such as Apple, Amazon, Microsoft and Netflix, as well as consumer goods companies such as Constellation Brands, Imax and Domino's Pizza.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.