Tesla (TSLA) PT Lowered to $1,000 at Credit Suisse, 'A challenged quarter, but long-term bull thesis intact'
- U.S. Stocks Open Lower as Growth-Charged Rally Fades
- Creating a New Platform is a Must says Analyst as Musk Teases Turning Twitter into Super 'X' App
- More Stress and VIX Above 40 Before 'Powell Put' is Triggered - Wells Fargo
- Stocks retreat, oil gains as OPEC+ looks to cut oil supply
- Exxon (XOM) Signals Strong Profits on High Gas Prices, Analysts Raise Numbers
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Credit Suisse analyst Dan Levy lowered the price target on Tesla (NASDAQ: TSLA) to $1,000.00 (from $1,125.00) while maintaining a Outperform rating.
The analyst comments "We expect Tesla 2Q’22 deliveries of 242k vs. sell-side consensus of ~280k, largely driven by the Shanghai COVID shutdown. Moreover, given the lower deliveries outlook, the associated margin impact, and an expected Bitcoin impairment, we reduce our 2Q EPS estimate to $1.10 from $2.06, and below consensus $2.08. Nevertheless, we remain positive on Tesla, as the long-term fundamentals are intact – and the widening supply constraints will likely extend Tesla’s lead over other OEMs in the race to EV. We reaffirm our Outperform rating and remain positive on the stock, albeit we reduce our TP to $1,000 from $1,125 reflecting a higher discount rate."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla (TSLA) October weekly calls active as shares sell off 3%
- Citi Opens a Positive Catalyst Watch on DexCom, Negative on Nevro, Cuts Penumbra to Neutral
- Centerra Gold Inc. (CG:CN) (CAGDF) PT Raised to Cdn$11 at Raymond James
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments
Related EntitiesCredit Suisse, Tesla, Bitcoin
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!