While maintaining its 'outperform' rating on Tesla, Wedbush has cut its price target from $315 to $300, to reflect weaker deliveries and lower figures for the electric carmaker.

'The first quarter has proved nightmarish for Tesla in terms of deliveries, while demand in China remains very weak', the broker points out, reducing its delivery estimates for the quarter ending from 475,000 to 425,000.000 to 425,000.

Despite 'dark storm clouds gathering in the near term', Wedbush remains positive on Tesla for the next few years, believing that its stranglehold on the electric vehicle market will strengthen.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.