Tesla, Bed Bath&Beyond rise premarket; Ichor, CarMax and Salesforce fall

Deutsche Bank views Tesla (TSLA) cuts as 'bold offensive move'; Reiterates buy

Deutsche Bank reiterated a Buy rating and $250.00 price target on Tesla (NASDAQ: TSLA) following a price cut by the automaker in a bold offensive move to bring costs below the IRS threshold and qualify for the $7,500 IRA EV tax credit. However, the unprecedented magnitude and global scope of the cuts clearly also reflect pressure on demand. Model prices in North America and Europe were slashed by 6-20% depending on the model.

Analyst Emmanuel Rosner wrote in a note,... More

Deutsche Bank on Tesla (TSLA): 'this could be the cut to end all cuts'

Deutsche Bank analyst Emmanuel Rosner reiterated a Buy rating and $250.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "Tesla slashed overnight the prices of many of its vehicle prices in North America and Europe, by 6-20% depending on model. These cuts bring down US prices for most Tesla models and... More

Wells Fargo cuts price target on Tesla (TSLA) ahead of 4Q Report

Wells Fargo reiterated an Equal Weight rating on Tesla Inc. (NASDAQ: TSLA) and cut the price target to $130.00 (from $230.00) ahead of 4Q results and as recent sales and large price cuts in China raise growth concerns. The company is scheduled to report 4Q results after the market closes on January 25th.

Analyst Colin... More

Morgan Stanley on Tesla (TSLA): 'Within a painful reset of EV expectations globally, we see Tesla as a winner'

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on Tesla (NASDAQ: TSLA)

The analyst comments "Could Teslas lower prices stimulate higher demand? Sure. Can aggressive pricing discourage or drive-out competition? Probably. But at a time of slowing economic growth and... More

RBC Capital on Tesla (TSLA): 'In our view, demand clearly has been tougher'

RBC Capital analyst Joseph Spak reiterated an Outperform rating and $186.00 price target on Tesla (NASDAQ: TSLA)

The analyst comments "In our view, demand clearly has been tougher and there is now hiding from the fact that price cuts hurt gross margins. Recall, late last year we cut 2023 auto gross margins (ex-credits) and now model 25.4% vs. Visible Alpha consensus of 27.7% (which has come down in recent weeks). To us, TSLA clearly seems to be focused on using its margins/cost structure to drive volume and fill up its new capacity (Berlin, Austin) which should... More

Atlantic Equities Downgrades salesforce.com (CRM) to Neutral

Atlantic Equities analyst Peter Sazel downgraded salesforce.com (NYSE: CRM) from Overweight to Neutral with a price target of $140.00 (from $200.00).

The analyst comments "We are downgrading Salesforce to Neutral on execution concerns, the broad C-suite management exodus and a risk of slower-than-expected revenue... More

Evercore sidelined following Tesla’s (TSLA) latest price cuts

Evercore ISI reiterates an In Line rating and $140.00 price target on Tesla Inc. (NASDAQ: TSLA) following the companys latest price cuts. The company dramatically cut prices overnight by a weighted avg. ~$10k or 16% on Model 3s and Ys to make most of their US offerings eligible for a $7.5k US/IRA consumer credit. Combining this US cut and next 2-month IRA $7.5k (moving to $3.75k mid-March), the starting price of... More

GM remains a top pick at Citi ahead of 4Q reporting

General Motors (NYSE: GM) remains a top pick at Citi Research ahead of 4Q reporting. Mobileye (NASDAQ: MBLY) remains Citis Top Supplier Pick, followed by Aptiv (NYSE: APTV). No changes were made to Citis prior stock setup views from earlier this week. However, refreshed 2023E supplier EPS estimates are 1-4%... More

Expansion delayed at Tesla’s (TSLA) Shanghai gigaplant

Electric vehicle giant, Tesla Inc. (NASDAQ: TSLA) has reportedly delayed its plans to expand the companys Shanghai factory according to a report by Bloomberg on Thursday, citing people familiar with the matter. The reason for the delay is reportedly connected to Elon Musks... More

Elon Musk’s Twitter considered selling usernames to boost revenue

According to a New York Times report, citing people familiar with the matter, social media platform Twitter considered selling usernames to generate new revenue. Twitter employees have held conversations about selling some usernames for the service since at least December, the people said. Some engineers have suggested holding online auctions where users can bid on usernames.

It remains unclear on if the project will move forward and if the plan affects all usernames or only a subset. However, CEO Elon Musk said last month that he wanted to start eliminating inactive accounts on... More

CarMax (KMX) has 'unfavourable' risk-reward says JPMorgan

CarMax (NYSE: KMX) was downgraded to Underweight from Neutral with a $60 price target by JPMorgan analyst Rajat Gupta on Wednesday.

Gupta told investors in a research note that CarMax shares have an "unfavourable" risk-reward.

"We believe KMX is likely... More

Ichor (ICHR) Q4 revenue misses expectations as near-term demand weakens

Ichor (NASDAQ: ICHR) shares slumped Wednesday after the company announced preliminary results for the fourth quarter, with revenue missing Wall Street expectations.

The company said it expects revenue for the fourth quarter to be $300 to $302 million, representing year-over-year growth of approximately 5% but... More

Tesla (TSLA) in preliminary talks to build Indonesian factory

An exclusive report by Bloomberg reports that electronic vehicle giant Tesla Inc. (NASDAQ: TSLA) is close to sealing a preliminary deal to set up a factory in Indonesia.

According to people familiar with the matter, the plant would produce as... More