Tesla (TSLA) PT Raised to $300 at Bernstein
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U.S. Senators Call for Investigation of Tesla’s (TSLA) Advertising Practices
August 18, 2021 5:35 PM EDTFollowing a series of Tesla (NASDAQ: TSLA) crashes, the company has become the subject of an investigation by U.S. safety regulators. U.S. Senators Richard Blumenthal (D-CT) and Edward Markey (D-MA), members of the Senate Commerce, Science, and Transportation Committee, authored a letter to FTC Chair Lina Khan today, voicing concerns surrounding Teslas advertising and marketing of its... More
Nio (NIO) and Tesla (TSLA) Supplier Bosch China Cuts Off Chip Deliveries
August 18, 2021 7:25 AM EDTDavid Xu, the vice president of Bosch China, released on Tuesday that its semiconductor factory in Muar, Malaysia, was shut down by the government due to pandemic restrictions. The factory is specialized in producing ESP/IPB, VCU, TCU chips.
In China, Bosch supplies chips and car parts to car... More
Tesla’s (TSLA) Giga Shanghai Location Confirms Localization Rate; Pushes Closer to $25k Model
August 17, 2021 2:43 PM EDTRumors that Teslas (NASDAQ: TSLA) Gigafactory in Shanghai is nearly at full localization were confirmed Monday by the Lingang New Area Party undersecretary, who noted that the facilitys localization rate should reach 90% by the end of 2021. The Shanghai factory is now the companys... More
Elon Musk's $2B SolarCity Trial Nears End
August 17, 2021 11:54 AM EDTA two-week trial surrounding Tesla (NASDAQ: TSLA) CEO, Elon Musks role in the purchase of SolarCity is nearing its conclusion, with the final witness being questioned Yesterday. Musk is being sued by shareholders who believe the CEO used his influence in the deal to personally enrich himself at the expense of Tesla.
Tesla director Antonio Gracias, the last witness, was questioned by... More
'Still Too Much to Believe': Bernstein Reiterates ‘Underperform’ on Tesla (TSLA), Says Stock Too Expensive
August 17, 2021 8:39 AM EDTBernstein analyst Tony Sacconaghi reiterated an Underperform rating on Tesla (NASDAQ: TSLA) with a price target of $300.00 per share (from $180.00).
Sacconaghi argues Tesla is not valued as a car company as the current price implies a valuation of 50x traditional automotive companies. Despite Teslas uniqueness, the stock looks expensive relative to high growth tech given its margin profile, the analyst says in a client note.
While calling Tesla's stock direction near-term is a fool's game, we do believe that over the long term, valuation matters, and that risk/reward at current levels is not... More
