TSLA - Tesla 'Erred' With This Move Says Bull Analyst As He Reduces Expectations For EV Stock | Benzinga
Tesla, Inc. (NASDAQ:TSLA) shares fell sharply Monday and pulled back below the $180 level, dragged by a few catalysts, including a downward price target revision by Piper Sandler.
The Tesla Analyst: Piper Sandler analyst Alexander Potter maintained an Overweight rating and reduced the price target from $295 to $225. Incidentally, the stock is trading well below even the reduced price target.
The Tesla Takeaways: Potter lowered his 2024 volume estimate for Tesla from 2.18 million units to 1.93 million units, marking a 7% year-over-year increase. Most of the upside will likely come from the “rest of the world” regions and the Cybertruck, he said with the former accounting for 80,000 of the incremental volume and the latter 31,000 units, the analyst said.
Tesla may have to cut prices further due ...