HawkInsight

  • Contact Us
  • App
  • English

Wall Street investors 'disappointment with Tesla intensifies, this week may hit its longest consecutive decline in 15 years

Online reports, CNBC reports that more and more investors on Wall Street are disappointed with Tesla. Ahead of Tesla's April delivery report and first-quarter results, UBS and Redburn Atlantic reiterated their sell ratings on Tesla due to sluggish Model Y delivery forecasts and the lack of a recent growth catalyst. UBS lowered Tesla's price target by $24 to $225, while Redburn was more pessimistic with a price target of $160. "We expect sales to stagnate this year without the upcoming new cars," Redburn analyst Adrian Yanoshik wrote. "The sluggish new car registration data so far may signal a continuing demand challenge. At the same time, we expect cash flow to be affected by the new Model Y models that begin delivery in March due to increased inventory. The United States may impose tariffs on goods imported from Mexico, increasing the cost burden." Tesla's share price plunged more than 13% on Monday and has fallen more than 40% so far this year. If the trend fails to reverse, the stock could fall for an eighth consecutive week after the U.S. election-triggered rally, the company's longest losing streak in 15 years.

Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.

NewFlashHawk Insight
More