Wells Fargo downgraded Tesla ($TSLA) to Underweight from Equal Weight, with a new price target of $125, down from $200. The downgrade is due to diminishing impact of price cuts on demand, lower lease residuals, disappointing deliveries, and more price cuts. This move follows other recent price target cuts by Deutsche and UBS.
Elon Musk’s Tesla is now a "growth company with no growth," Wells Fargo writes in scathing downgrade. https://t.co/YdgRM4boFI
$TSLA price target cuts in the past week: * Deutsche: $250 --> $218 * Wells: $200 --> $125 * UBS: $225 --> $165 https://t.co/Zmz3nYKqxM
$TSLA: UBS cuts target price to $165 from $225 "Concerns mounting, but will multiple crack? Aside from slowing EV demand and China competition, concerns include: 1) Unit growth re-acceleration depends on affordable (~$25k starting price) Model 2, but this would be a "late"…
UBS just lowered its price target on Tesla $TSLA to $165 from $225 while maintaining its Neutral rating
Has $TSLA, once hailed as an auto industry trailblazer hit the brakes on its momentum? @carlquintanilla, @davidfaber, and @michaelsantoli consider Wells Fargo's downgrade of the name, declaring the carmaker a "growth company with no growth." https://t.co/LK43HnEVAx
Tesla’s stock extends selloff as Wells Fargo joins the bear camp https://t.co/AHAvJSGrzx
Wells Fargo downgrades $TSLA after seeing my $100k Cybertruck loan https://t.co/mClupM2etn
Tesla a ‘growth company with no growth,’ Wells Fargo says https://t.co/lvBAmLJ36E
Brutal $TSLA headline... "Wells Fargo: Tesla is a growth company with no growth"
Wells Fargo downgraded $TSLA Price target from $200 to $125 https://t.co/ga5M5BmsTv
$TSLA (-2.5% pre) Price action goes from bad to worse as Wells Fargo cuts price target from $200 to $125 https://t.co/i2iGhG53RD
$TSLA: Wells Fargo Downgrades to Underweight from Equal Weight - PT $125 (from $200) "We downgrade TSLA from EW to UW. We see downside risk to volume as price cuts are having a diminishing impact. We see headwinds from disappointing deliveries & more price cuts, which likely…
$TSLA downgraded to Underweight. "A growth company with no growth" - Wells Fargo. PT $125.
WELLS: We expect $TSLA volume “to disappoint as [price] cuts are having a diminishing impact on demand. .. In the wake of px cuts are lower lease residuals, disgruntled customers & the possible loss of the luxury brand premium.” Cuts to Underweight, $125 target (prior $200) https://t.co/OlVxXYjTsQ