Tesla (TSLA) Sparks Demand Concerns With Unsold Inventory And Price Cuts - Cowen

Cowen analyst, Jeffrey Osborne, reiterated his Underperform rating on shares of Tesla (NASDAQ: TSLA) after the company reported deliveries that were roughly in line with consensus. However, the company also reported price reductions and unsold inventory which raised concerns about US demand and caused shares to sell off.

The analyst stated "We see dwindling U.S. backlog, a more competitive launch in Europe and China, as well as B/S and cash worries as major concerns for investors that the company will need to address to maintain the high growth multiple on TSLA shares relative to auto peers".

No change to the price target of $250.

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $305.50 yesterday.

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