Silvergate, Etsy, JD.com and MongoDB fall premarket; Hilton, Uber rise

Tesla (TSLA) stops use of BYD batteries citing quality concerns

Barclays reiterated an Overweight rating on Tesla (NASDAQ: TSLA) with a $275.00 price target following reports that the electric vehicle company has stopped using BYD batteries in their low-priced models. The report from hankyung.com also notes that LG is developing LFP batteries per TSLA... More

Morgan Stanley remains bullish on Tesla (TSLA) as price cuts fail to trigger demand

Morgan Stanley reiterated an Overweight rating and $220.00 price target on Tesla Inc. (NASDAQ: TSLA) as recent price cuts fail to trigger the strong demand-response expected by the industry.

Morgan Stanleys China team believe that Tesla's price cuts started a broader round of industry price reductions... More

Wolfe Research Downgrades Tesla (TSLA) to Peerperform on Growing Macro Concerns

Wolfe Research analyst Rod Lache downgraded Tesla (NASDAQ: TSLA) from Outperform to Peerperform.

The analyst comments "We upgraded TSLA in September 2022 based on three assumptions: 1. We thought that TSLAs cost reduction opportunities were under-appreciated; 2. We believed that TSLA would disproportionately benefit from the US IRA, and; 3. We believed that both factors would help support growth, as we anticipated that TSLA would leverage these advantages to steadily reduce prices while maintaining surprisingly strong margins. Were still convinced of Teslas impressive cost... More

Goldman Sachs Terminates Coverage on SVB Financial Group (SIVB)

Goldman Sachs Terminates Coverage on SVB Financial Group (NASDAQ: SIVB)

Analyst Ryan Nash comments "Effective immediately, we are dropping coverage on SVB Financial Group."

Stifel Lays Out Biotech Names Exposure to SVB Financial Group (SIVB)

Stifel analyst Dae Gon Ha comments "Repercussions of the SVB fallout is dominating headlines and naturally, the majority of our covered companies being unprofitable, pre-commercial companies, stocks under our coverage universe are down sharply today. We have reached out to the respective management teams and are reassured that the impact could be, at least for now, less catastrophic. Of course,... More

President Xi adds oversight risk to China EV battery growth plans

Battery makers in China were put on notice this week following a message from President Xi Jinping. On Monday, the President said that he had mixed feelings about CATL and its status as the world's largest battery maker. Xi said that he was both pleased and concerned about CATLs electric vehicle battery dominance.

Xis remarks showed CATL has drawn the attention of top Chinese officials. Since last year, CATL's customers have... More

Tesla (TSLA) recruits Asian partners to address battery concerns

An exclusive story by Reuters on Friday reports that electric vehicle giant, Tesla (NASDAQ: TSLA) is recruiting Chinese and Korean materials suppliers to help lower cost and boost the energy of its newest battery cells, according to people familiar with the plans.

According... More

SVB Financial (SIVB) PT Lowered to $177 at JPMorgan, 'What to Do with SIVB Shares Post the Sell-Off and Industry Read-Through'

JPMorgan analyst Steven Alexopoulos lowered the price target on SVB Financial (NASDAQ: SIVB) to $177.00 (from $270.00) while maintaining a Overweight rating.

The analyst comments "SIVB shares declined 60% in response to the intra-quarter update as well as a number of strategic actions being announced. While the mid-quarter update from the company pointed to an incremental $5B of deposit outflows anticipated during 1Q23, on the surface this did not appear dramatic enough to warrant the company having also announced that it had sold $21B of AFS securities (which triggered a $1.8B loss being recognized). With the... More

BYD announces discounted pricing for select models

Tesla (NASDAQ: TSLA) rival, and leading seller of battery electric vehicles, BYD announced Thursday on its social media account that the Chinese automaker will be offering discounts on some models, intensifying competition in the biggest auto market.

The discounts will... More

Morgan Stanley Cutting Estimates 'by 25%/27%' on Underweight Rated SVB Financial (SIVB)

Morgan Stanley analyst Manan Gosalia reiterated an Underweight rating and $190.00 price target on SVB Financial (NASDAQ: SIVB).

The analyst comments "Cutting our EPS estimates for 2023/2024 by 25%/27% to $11.95/$18.60 on weaker NIM as funding costs ramp higher. We are reducing our 2023 EPS estimate by 25% to $11.95 from $16.02, driven by lower NII and higher share... More

Analysts positive on Uber following revised wage proposal and potential freight spinoff headlines

Uber (NYSE: UBER) shares gained in early Thursday trading after analysts at Piper Sandler and Jefferies provided positive commentary on the stock.

The analyst notes followed positive headlines for Uber, which included New York City issuing a revised wage proposal for app-based food delivery... More

Hyatt Hotels valuation 'no longer attractive,' Hilton 'best-in-class' - Barclays

Barclays cut Hyatt Hotels (NYSE: H) to Equal-Weight from Overweight, cutting the firm's price target on the stock to $125 from $130, and upgraded Hilton (NYSE: HLT) to Overweight from Equal Weight, raising the price target to $168 from... More

Bernstein examines key data points from Tesla's (TSLA) investor day; reiterates Underperform

Bernstein reiterated an Underperform rating and $150.00 price target on Tesla (NASDAQ: TSLA) after breaking down key data points from the EV makers 2023 Investor Day.

On 1st March, Tesla held its Investor Day. Writes analyst Toni Sacconaghi. The company provided select quantitative updates, and with some simple math, we found the implications of several of them interesting:

Tesla produced its 4 millionth car on its investor day. To this point, Tesla had produced 3.73M cars in its history, pointing to about 273K cars produced this quarter, ~64% of consensus production estimates (428k cars for Q1).... More