Recently, Tesla's performance in U.S. stocks is obvious to all, and its stock has risen 13 times in a row to delight many investors and institutions.。But the good times didn't last long, and the U.S. electric car maker was suddenly bearish by multiple agencies.。

On June 26, Goldman Sachs downgraded Tesla's rating to "neutral" from "buy."。The reason is that Tesla's current stock price already contains a "positive long-term view" of the company's growth and competitive positioning, and the pricing environment for Tesla's new cars is difficult.。

It's worth noting that Goldman Sachs isn't the first big bank to pour cold water on Tesla, and last week, Barclays and Morgan Stanley also downgraded Tesla's rating.。

Last week, Barclays downgraded Tesla's stock rating to "hold" from "buy."。Citing recent stock market gains and concerns about second-quarter inventory build-up。Morgan Stanley also downgraded Tesla stock to "hold" from "buy."。In a note to clients, Jonas said the downgrade was "given a relatively complete valuation and a more balanced return on risk."。

  

Why did analysts downgrade Tesla?？

 

Among analyst downgrades, gross margins are a concern for many big banks。"We believe the market is now placing more trust in the stock's long-term opportunities."。Goldman Sachs analyst Mark Delaney said, "But we also recognize that intense competition makes it difficult to price new vehicles, and we think that will continue to weigh on Tesla's gross vehicle margin this year."。"

The stock was also boosted last week by China's announcement of up to RMB 520 billion in new energy vehicle purchase tax relief plans.。But Morgan Stanley and Barclays point out that Tesla faces fierce competition in the Chinese market and may be forced to cut prices。As a result, the profit forecast for Tesla may be lowered in the future。

Barclays analyst Dan Levy expects Tesla to earn just $4 a share in 2024。And according to FactSet, the consensus on Wall Street is about 4.$80。In April, Jefferies and Truist Securities downgraded Tesla's stock after it reported lower-margin first-quarter results.。

The artificial intelligence boom has made the market look forward to Tesla's self-driving technology FSD, but the impact of AI on Tesla's stock price is fading, which is one of the reasons for the downgrade of the big bank。Morgan Stanley analyst Adam Jonas said Tesla's stock had recently risen on "high expectations" for artificial intelligence and was currently at a "reasonable valuation."。

Tesla's stock has risen nearly $80 in the past month, jumping from about $180 per share to $260.。The opening of Tesla's electric vehicle charging network to other automakers and the buzz about artificial intelligence after Nvidia's quarterly results blowout have boosted the stock price。Morgan Stanley noted that Tesla's stock has surged 111% so far this year due to excitement about artificial intelligence.。Jonas said: "While the market may want to dream up an AI theme, we'll be ready to wake up to the sound of car horns blaring.。"

While a number of major banks have downgraded their ratings, they have coincidentally raised Tesla's price target。Goldman Sachs raises Tesla's price target to $248 from $185, Ballek raises it to $260 per share from $220 and Morgan Stanley raises it to $250 per share from $200。

A month ago, analysts were reportedly targeting an average price of about $190 per share for Tesla stock, about $10 more than the stock was trading at the time.。Tesla now has an average price target of about $204 per share, about $37 lower than Tesla's closing price on Monday.。Among analysts surveyed by Capital IQ, Tesla's average investment rating is OUTPERFORM, with price targets ranging from $85 to $335.。

The increase in the target price shows that the bank's overall view of Tesla is still positive, and analysts also affirmed Tesla's position as an industry leader in the report。

Goldman Sachs says it will be market leader despite pricing challenges。Tesla's monthly sales in April and May were "relatively stable," and North America's charging network was open to third parties, a smaller but booming business.。

Morgan Stanley says Tesla remains a "must-have" company in any electric car or electric vehicle portfolio。"We see ongoing evidence that Tesla is becoming the industrial 'standard-bearer" for one of the biggest industrial transformations we have witnessed in more than a century, the' electric mobility and renewable energy economy, "" he said.。"

  

Tesla has always been a firm bet on the "wood sister" began to take the lead in selling？

 

By June 12, Tesla's stock price had risen for 12 consecutive trading days。Climb from $186 to $250, up 37%, pushing market capitalization to exceed $800 billion again。This round of rise attracted a lot of people high cash, "wood sister" Cathy Wood (Cathie Wood) is one of them.。

On June 24, Sister Wood's Ark Investment Management Company took 256.At the closing price of $60, 27,841 Tesla shares were sold for about $7.1 million.。The sell-off was done through the ARK Innovation ETF and the ARK Next Generation Internet ETF, of which Tesla is a heavyweight.。On June 26, Ark Investment Management continued to reduce its position in Tesla, selling more than 8,200 shares, worth nearly $2 million at closing prices.。

On June 12, after Tesla's stock rose for 12 consecutive trading days, Wood's company began its current round of reductions。Sister Wood sold nearly 49 in June..40,000 shares。Prior to the sell-off this month, Sister Wood's Ark Fund bought more than 1.3 million shares of Tesla stock earlier this year.。

Tesla shares have risen about 122% since January 3.。However, Tesla is down about 41% from its all-time high of $414 hit in November 2021.。

While selling Tesla shares, Wood's Ark Fund bought more than $3.8 million worth of chip shares on June 26, including nearly $2 million worth of AMD shares and more than $1.8 million worth of TSMC shares.。

Compared to the wood sister this "passer-by powder" in Tesla's high point of silent cash, billionaire investor Ron Baron (Ron Baron) imaging is Tesla's "die-hard powder," he said he will firmly bet on Tesla。

Barron said in an interview on Friday that Tesla's stock has more room to rise。He said: "We have invested in Tesla..$800 million, we've made about $4 billion so far and have cashed in $1.5 billion。"

The huge returns at Tesla have made him firmly bullish on the stock, Barron said: "I think the stock will reach $500 in 2025 and $1,500 by 2030.。This is my goal。"

Investors in Barron and its fund companies currently hold 17.5 million shares of Tesla stock, of which 5 million shares are held by Barron personally.。Ron Barron has been a long investor in Tesla since 2014。Barron said he bought Tesla shares himself after buying them for all of his company's investors.。He says he will only sell Tesla shares after all customers。"I will be the last one to sell," Barron said, "the latest entry, the latest exit."。"