EV - Tesla Stock Down Amazes Analysts by Maneuvering in a Challenging Climate
Tesla stock dropped to trade at $210.06 as of 10:24 AM EDT.
Wall Street analysts are scrutinizing Tesla ( NASDAQ:TSLA ) after the electric vehicle market repeated its multi-year 50% annual delivery growth objective, but cautioned that supply chain and logistical challenges might prevent it from achieving that pace this year.
According to Adam Jonas of Morgan Stanley, TSLA had a strong quarter with an EPS beat despite decreased regulatory credits, higher input prices, FX headwinds, and inefficient logistics and plant ramp-up. He pointed out that the company’s projection was almost tripled by $3.3 billion in free cash flow. Although the EV powerhouse had a very successful quarter, Jonas wishes the FY23 consensus had more room for macro uncertainty.
RBC Capital Markets analyst Joseph Spak made the Inflation Reduction Act’s positive effects on Tesla’s ( NASDAQ:TSLA ) margins in 2022 and 2023 an increasing point of attention. Analyst Dan Ives of Wedbush Securities has maintained his optimistic view on Tesla ( NASDAQ:TSLA ).
“This quarter was a respectable performance in a very challenging environment, with delivery and supply chain issues front and center in Europe and China that threw another dose of reality for Tesla, which has been Teflon-like over the past few years despite supply chain chaos across the auto/tech world,” said one analyst.
Expert opinion on Tesla stock forecast
Ives anticipated that Tesla ( NASDAQ:TSLA ) would start buying back shares in order to appease investors. According to the risk/reward ratio, Tesla still doesn’t make sense for i...
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