Tesla Fell Over 2% in Premarket Trading After UBS Downgraded It to Neutral From Buy
Tiger Newspress2023-07-24
Tesla Motors fell over 2% in premarket trading.
It has started offering consumers 84-month auto loans after Elon Musk said the carmaker would “have to do something” about rising interest rates.
Also, it was downgraded to Neutral from Buy at UBS. The analysts, however, raised the price target on the stock to $270 from $220. UBS said for the next 12 months it thinks “upside risk to consensus earnings is very limited with significant volumes from new product (first Cybertruck, then the affordable model) not kicking in before H2/24, and with some initial margin-dilutive impact.”
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