Morgan Stanley analysts cut Tesla price target to $345
As of January 2024, Tesla (TSLA) stock has experienced a period of decline, and the stock has fallen nearly 16% since the beginning of the year.。
Morgan Stanley analyst Adam Jonas lowers Tesla price target
Morgan Stanley (MS) analyst Adam Jonas announced that he would cut his price target on Tesla from $380 to $345 while maintaining his overweight rating on the stock.。He expects Tesla's sales and profits to be cautious in 2024, noting that growth in the global electric vehicle market is slowing.。
Tesla to Report Fourth Quarter 2023 Earnings
Tesla plans to report its fourth-quarter 2023 earnings on January 24, 2024。According to Wall Street forecasts, fourth-quarter earnings per share (EPS) will fall 39% to 73 cents, while revenue will increase 5% to 256.$200 million。For the whole of 2023, analysts expect earnings to decline by 25% to 3% per share..05 dollars, sales of 974.$600 million, up 20% from 2022。
Musk asks for more Tesla shares and voting rights
Tesla CEO Elon Musk's demand for more Tesla stock and voting rights raises concerns。Otherwise, he said, the robotics business could be moved to other start-ups.。In addition, Tesla's pricing strategy, especially the price cuts for Model Y and Model 3, is seen as a potential threat to profit margins.。
Investors are cautious about Tesla's future performance, and there is some uncertainty about its sales and profit performance in 2024.。
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