Tesla Analyst Downgrades Stock, Cuts Price Target By About 20%: 'Hard To Get Comfortable With Near-Term Earnings'

Benzinga ·  04/26 20:19

Tesla, Inc. (NASDAQ:TSLA) price cuts have alienated another long-time bull, who dropped his bullish stance and tempered his price target for the stock.The Tesla Analyst: Jefferies analyst Philippe Houchois downgraded Tesla stock from Buy to Hold and reduced the price target from $230 to $185.The Tesla Thesis: Telsa's stepped-up transition to a world of sustainable energy and resource efficiency may slow down electric vehicle penetration and accelerate profit normalization for the industry, analyst Houchois said in a note.The first-quarter results, the analyst said, did not validate demand elasticity offsetting lower prices. Cost progress

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