Tesla: Wedbush slashes target price
(CercleFinance.com) - On Thursday Wedbush Securities reduced its target price for Tesla shares from 1,400 dollars to 1,000 dollars, while maintaining its buy recommendation on the stock (current price: 698 dollars, -1.
7%)
In its comments published in the morning, the broker explains that the dramatic consequences of the Shanghai lockdowns - both in terms of supplies and production - can no longer be ignored.
Wedbush said it expects the company's shipments to suffer in Q2, before an inevitable slowdown in growth in China, one of its key markets, in the second half of the year.
Regarding the Twitter saga, the US broker says the situation is not expected to affect Tesla from a fundamental perspective, although argues that it could be a distraction to its boss, Elon Musk, at a time when the auto industry is facing its worst logistics crisis in recent history.
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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.
7%)
In its comments published in the morning, the broker explains that the dramatic consequences of the Shanghai lockdowns - both in terms of supplies and production - can no longer be ignored.
Wedbush said it expects the company's shipments to suffer in Q2, before an inevitable slowdown in growth in China, one of its key markets, in the second half of the year.
Regarding the Twitter saga, the US broker says the situation is not expected to affect Tesla from a fundamental perspective, although argues that it could be a distraction to its boss, Elon Musk, at a time when the auto industry is facing its worst logistics crisis in recent history.
Copyright (c) 2022 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.