Form 8-K Tesla, Inc. For: Jul 19
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JPMorgan Stays Underweight on Tesla (TSLA), PT $120, 'lowering our earnings estimates for Tesla shares today and suspect the Street will as well'
July 20, 2023 8:16 AM EDTJPMorgan analyst Ryan Brinkman reiterated an Underweight rating and $120.00 price target on Tesla (NASDAQ: TSLA)
The analyst comments "We are lowering our earnings estimates for Tesla shares todayand suspect the Street will as wellafter the companys fourth straight operating profit miss vs. Bloomberg consensus, brought about again by the continued trading of profits for sales. Automotive adjusted gross margin excluding the sale of regulatory credits remains at the front and center of investor attention after this key performance metric shocked investors last quarter by plummeting -1,100 bps y/y from a then... More
