Tesla (TSLA) PT Reduced to $191 at Citi on Lack of Rebound Post Deal
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Citi analyst Itay Michaeli reduced the price target on Tesla (NASDAQ: TSLA) to $191.00 (from $238.00) on lower expectations for Q1 results.
The analyst stated "the risk/reward still appears negatively skewed despite the recent capital raise and stock pullback, mainly on lingering demand/FCF concerns (May 16th reported cost cutting memo, Model S/X price cuts, China risks). Reducing estimates to reflect the recent capital raise, Q1 results/guide and our own inputs (Citi deliveries < guide). Target goes to $191 from $238 on: (a) modestly lower terminal value margins reflecting our reduced 2019-21 estimates; (b) adjusting our Full Bull/Moderate Bull/Full Bear probability scenario weightings to
5/55/40 from 10/55/35, post the Q1 guide.maintaining a Sell rating".
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Create E-mail Alert Related CategoriesAnalyst EPS Change, Analyst PT Change
Related EntitiesCiti, Tesla
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