Bernstein Cuts Tesla Price Target to $120 From $150

Tiger Newspress03-26

Longtime Tesla bear Toni Sacconaghi lowered his price target on the EV maker to $120 from $150, citing growing demand constraints. The new forecast implies downside of 30% over the next 12 months.

“Quarter to date, Tesla has experienced soft China/Europe demand and constrained US Model 3 production,” the Bernstein analyst wrote, reiterating his underperform rating and lowering his first-quarter and full-year deliveries estimates.

“Despite the stock’s underperformance YTD, we struggle to see a catalyst for TSLA. We expect tepid growth in 2024, as well as 2025, bringing into question the company’s growth narrative,” Sacconaghi wrote.

Tesla has lost 30.5% in 2024, making it the worst-performing S&P 500 stock. To be sure, shares were up more than 3% in the premarket.

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Comments

  • Leecash
    03-26
    Leecash
    First statement sums this guy up. 
  • pradeepmodi
    03-26
    pradeepmodi
    there is no chance of price going below USD 160....in short term., However in long term, TESLA is a superb  stock 
  • Drdeedee
    03-26
    Drdeedee
    They want to buy it cheap again.
  • AlanTLK
    03-26
    AlanTLK
    😂Fong idiot
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