see the company’s shares trading at low prices as an opportunity, while one analyst even upgraded Tesla’s stock ahead of the coming holidays.
“We feel that some of the prior baked-in expectations that we didn’t agree with are out of the stock,” wrote Michaeli in his upgrade report. “To be sure, macro/competitive concerns are likely to remain an overhang with [EV] capacity rising, but as we’ve previously written, in a hard [economic] landing scenario Tesla’s [long-term] competitive position likely also improves.”
“Tesla is approaching our $150 [per share] bear case, driven by price cuts in China, decelerating EV demand, and other market currents,” wrote Jonas in a report.
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