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Tesla: Wedbush remains 'neutral' ahead of 'Cybertruck' event

(CercleFinance.com) - Wedbush Securities maintains a "neutral" rating and 270-dollar target price for the Tesla stock, as the Californian electric carmaker is set to unveil its keenly awaited pickup truck, the "Cybertruck", tomorrow in L.

The broker believes that the basic version of the vehicle will cost around 50,000 dollars, as Musk has already said that the truck will be more affordable than its main competitor, the Rivian R1T, which is priced as from 69,000 dollars.

Wedbush also thinks that Tesla's pickup truck will be surprisingly strong with towing capabilities that exceed those of Ford's F150 and Rivian's R1T.

"In a nutshell, we believe this next generation pickup truck could help Tesla expand its market opportunity outside its core customer base over time," it adds.

Wedbush, however, thinks that winning market share from Ford and GM will prove difficult.

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