Tesla: Canaccord drops buy rating
(CercleFinance.com) - While maintaining its target price of 750 dollars for the Tesla share, Canaccord has downgraded its "buy" rating to "hold," with the broker saying "we see a balanced risk reward for investors to lock in profits".
It sees the risk of the Chinese coronavirus as a "clear headwind" for its Shanghai site. It says that it feels a reset of expectations in Q1 is likely and thus needs tobe reflected in the valuation.
While the broker continues to "favor TSLA as the leading EV juggernaut," it believes that "patient investors will likely get amore attractive entry point".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
It sees the risk of the Chinese coronavirus as a "clear headwind" for its Shanghai site. It says that it feels a reset of expectations in Q1 is likely and thus needs tobe reflected in the valuation.
While the broker continues to "favor TSLA as the leading EV juggernaut," it believes that "patient investors will likely get amore attractive entry point".
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.