"We are cautious of the discounting given LT brand risk," a note Thursday from Wells Fargo read, referring to longer-term damage to Tesla's brand. Wells Fargo cut its price target for the company from $190 to $170.
Analysts from Oppenheimer wrote that while Tesla would benefit over time from the potential market share gains that price cuts could bring, "near-term margin pressure" would continue "to be a concern for investors." Oppenheimer has a perform rating on Tesla's stock. Tesla shares remain elevated from a dismal 2022 performance which mirrored the broader downturn in tech companies. Shares of the electric vehicle manufacturer are up nearly 47% year to date as of Wednesday's close.
Correction: Tesla reported GAAP earnings of 73 cents per share. An earlier version mischaracterized the result.
I love the way a few people are saying how brilliant Musk is to cut prices six times this year. Potential Tesla owners despise Musk. He needs to shift to coal rollers to appeal to his base.
Well if you lower the price but continue to sell millions of cars that’s not necessarily a bad thing. At least he can afford to lower them, the other EV companies say they can’t afford to lower prices. Stock price is important to we stockholders but not to him. He’s said for a…
A new generation of $TSLA bagholders is born. Welcome to the club, folks.
High rates and inflation = less people buying expensive cars. Auto companies have to find ways to make a car and not a mobile home with every piece of technology in existence.
How are the CNBC earnings compared to last year? 😂😂😂
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