HSBC on Wednesday renewed its 'lighten up' recommendation and $143 price target on Tesla shares, underlining the many challenges currently facing the electric vehicle manufacturer.

While it notes that investor appetite has recently been rekindled by the promise of 'hands-off' autonomous driving (HUD) and the growth potential displayed by the group, these elements are mostly accompanied by risks, argues the intermediary.

In particular, HSBC is concerned about the time it will take Elon Musk's group to bring its various concepts to market, as well as the increasingly obvious slowdown in the growth of its deliveries.

The analyst indicates that he has lowered his earnings forecasts for Tesla to take into account the more pronounced than expected weakness in volumes, as well as its price cuts, which were higher than expected.

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