Rivian, Ford Shares Slide Premarket; Toast, Fortinet Rise

Tesla (TSLA) Model Y Becomes Best-Selling Car in Germany

Electric vehicle maker, Tesla (NASDAQ: TSLA) continues to be the best-selling BEV in Germany after reporting September numbers showing that the company sold almost 14k units in the country, over 6% market share. While Tesla has long been the best-selling BEV in Germany, in September it was the best-selling car, considering all powertrains overtaking local best-selling models from... More

China Adds Tesla (TSLA) Models S/X to Purchase Tax Exemption List

Chinas Ministry of Industry and Information Technology (MIIT) recently released its updated Catalogue of New Energy Vehicle Models Exempted from Vehicle Purchase Tax, and it included Teslas (NASDAQ: TSLA) new Model S and Model X vehicles. The two flagship vehicles are now... More

Goldman Sachs Updates Auto Forecast: 'We Prefer TSLA and GM'

Goldman Sachs updated their automotive industry forecast to reflect continued macroeconomic and financial market headwinds along with easing chip constraints and added policy support for electric vehicles. Overall, Goldman Sachs global auto forecast for production and sales moves slightly lower for 2023-2025. However, EV assumptions increased.

Goldman Sachs continues to expect auto production to trend higher from a low base as chip shortages ease, although they expect the magnitude to be impacted by softer demand. Overall, global auto production is now expected to be 81.7/82.8/85.6/87.3 mn (vs. 78.9/84.1/88.4/90.2 mn prior).

Analyst, Mark... More

Mizuho Securities Reiterates Buy Rating on Rivian (RIVN) Following Recalls; 'Headlines Worse than Reality'

Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating and $65.00 price target on Rivian Automotive Inc (NASDAQ: RIVN) following recalls.

The analyst commented, "We had the opportunity to catch-up with RIVN after the headline on the voluntary recall affecting all of its... More

Morgan Stanley Cuts Price Target on Tesla (TSLA)

Morgan Stanley reiterated an Overweight rating and cut the price target on Tesla, Inc. (NASDAQ: TSLA) to $350 (from $383) following the companys 3Q delivery miss. Morgan Stanley believes the factors that drove to Teslas weaker than expected 3Q production and deliveries could... More

Toast (TOST) Could Reach Profitability in 2023, Ahead of Expectations - Mizuho

Mizuho Securities analyst Dan Dolev upgraded Toast (NYSE: TOST) shares to Buy from Neutral, raising the price target to $24 from $22 per share in a research note Monday.

The analyst stated that the firm's restaurant survey shows a "delicious path to profitability."

"Our... More

Rivian (RIVN) Recalls 'Optically Negative but Financially Insignificant' - Needham & Company

Needham & Company analyst Vikram Bagri reiterated a Hold rating on Rivian Automotive Inc (NASDAQ: RIVN), calling the recalls "optically negative but financially insignificant."

The analyst commented, "

RIVN issued a recall affecting nearly all of its delivered vehicles, the third recall issued in the... More

Merck (MRK) Shares Rally, Analyst Believes Data Supports Approval of Statercept in PAH

Merck (NYSE: MRK) announced positive top-line results from the pivotal Phase 3 STELLAR trial evaluating the safety and efficacy of sotatercept on Monday.

The company said the trial met its primary efficacy outcome measure, demonstrating a statistically significant and clinically meaningful improvement in the six-minute walk distance from baseline at 24 weeks.

Following the news, Mizuho analyst Mara Goldstein maintained a Buy rating and $100 per share price target on the stock, telling investors, "while specific details were not disclosed,... More